EY Global Oil and Gas Reserves Study 2013

Global oil and gas
reserves study
2013
Table of contents
Study overview 1
Worldwide study results
Capital expenditures
Revenues and results of operations
Oil reserves
Gas reserves
Performance measures
4
6
8
10
12
Worldwide company statistics

Oil reserves
Gas reserves
18
22
26
30
34
Summary of 2012 study results 40

Africa and Middle East 44
Asia-Pacific 52
Canada
60
Europe
68
South and Central America 76

US
84
Other/unspecified 98
Other information
Study companies and their areas of operations
Peer groups
Company footnotes
| Global oil and gas reserves study
106
108
108
Study overview
The Global oil and gas reserves study is a compilation and analysis of certain oil and gas reserve disclosure
information as reported by companies in their annual reports filed with the United States (US) Securities
andExchange Commission (SEC) or in their publicly available annual reports. This report presents the
worldwide and regional exploration and production (E&P) results for 75 companies for the five-year period
from 2008 through 2012.
The companies
Acquired companies and othertransactions
The study includes companies headquartered in 18 countries

across the globe. The results are generally representative of the
E&P industry as a whole, with the exception that many national
oil companies do not publicly disclose financial and operational
data and their performance trends may vary significantly. Due
to the vast quantity of reserves held by national oil companies,
the companies included herein account for only approximately
9% of total worldwide oil reserves and approximately 9% of total
worldwide gas reserves, based on 1 January 2013 reserves
estimates published by the Oil & Gas Journal. For consistency
andcomparability purposes, this study includes only companies
that report their oil and gas reserve information according to
USSEC standards.
Due to the significance of the operations of two companies that

were acquired during the five-year study period, their capital
expenditures, revenues and results of operations, oil reserves and
gas reserves have been included in this report for the years prior to
their acquisition as further discussed below. This provides a more
meaningful comparison throughout the five-year study period.
The companies have been classified into three peer groups:

integrated companies (integrateds), large independents and
independents. Integrated companies are those that have oil
refiningactivities in addition to exploration and production.
Independents do not have oil refining activities, but may
have midstream operations in addition to their exploration
and production activities. The independents were classified
as largeiftheir 2012 worldwide ending reserves exceeded
1billionbarrels of oil equivalent.
In June 2010, XTO Energy was acquired by Exxon Mobil

Corporation. XTO Energys 2008 and 2009 capital expenditures,
revenues and results of operations, oil reserves and gas reserves
have been included in this report. The capital expenditures,
revenues and results of operations, oil reserves and gas reserves
reported by ExxonMobil for 2010 include activity related to the
operations acquired from XTO Energy. XTO Energys end-of-year
2009 oil reserves and gas reserves have been included in 2010
beginning-of-year reserves with an equal volume included as sales
in 2010 to reflect the ExxonMobil transaction.
In August 2011, Petrohawk Energy was acquired by BHP Billiton
Group. BHP Billiton has a 30 June fiscal year-end and its fiscal year
includes the period from 1 July through 30 June. Thus, the capital
expenditures, revenues and results of operations, oil reserves and gas
reserves reported by BHP Billiton for 2012 include activity related
to the operations acquired from Petrohawk Energy from the date
of acquisition. Petrohawk Energys capital expenditures, revenues
and results of operations, oil reserves and gas reserves have been
included in this report for 2008 through 2011. Petrohawk Energys
end-of-year 2011 oil reserves and gas reserves have been included
in 2012 beginning-of-year reserves with an equal volume included as
sales in 2012 to reflect the BHP Billiton transaction.
For purposes of the peer group analysis, XTO Energy is designated
as a large independent and Petrohawk Energy is an independent.
In May 2012, the Argentine Congress passed a law that provided
for the expropriation of the shares of YPF S.A. owned by
RepsolYPF, S.A. As a result of this action, Repsol YPF was renamed
Repsol S.A. and the oil reserves and gas reserves Repsol had
recorded in connection with its ownership of YPF were reported as
sales in 2012. Repsols sales related to YPF are reflected in reserve
tables in this report; however, the sales are not included in the all
sources production replacement rate calculations. YPF is included
in this report with its 2012 beginning-of-year oil reserves and gas
reserves reflected in the Other component of the reserves tables.
Global oil and gas reserves study |
The SEC Rule
The performance measures presented herein were calculated based

on the companies oil and gas reserve disclosure information. EYs
methodology for calculating the performance measures is defined
below.
On 31 December 2008, the SEC issued a final rule titled

Modernization of Oil and Gas Reporting (the SEC Rule). The SEC
Rule was effective for annual reports for fiscal years ending on
or after 31 December 2009. The intent of the SEC Rule was to
provide investors with a more meaningful and comprehensive
understanding of oil and gas reserves. The SEC Rule also sought to
modernize and update the oil and gas disclosure requirements to
align them with current practices and changes in technology.
Proved reserve acquisition costs are calculated as proved

property acquisition costs and identified related asset retirement
obligation costs, divided by proved reserves purchased.
Finding and development costs are calculated as unproved
property acquisition costs, exploration costs, development costs
and identified related asset retirement obligation costs, divided
by extensions and discoveries, revisions and improved recovery
of proved reserves. The calculation excludes the effect of proved
reserves purchased.
Reserve replacement costs are calculated as total costs incurred
divided by extensions and discoveries, revisions, improved
recovery and purchases of proved reserves.
Production replacement rate (all sources) is calculated as
extensions and discoveries, improved recovery, revisions,
purchases and sales of proved reserves, divided by production.
Production replacement rate (excluding purchases and sales) is
calculated as extensions and discoveries, improved recovery and
revisions of proved reserves, divided by production.
Production costs are calculated as production costs, including
production taxes, transportation costs and production-related
general and administrative expenses, divided by production.
Many individual companies calculate and report their own
performance measures, and companies may use different methods
that produce results different from those shown in this report.
The main provisions of the SEC Rule include the following:

The SEC Rule requires that proved reserves be estimated using
the 12-month average beginning-of-month price for the year,
rather than year-end prices.
The SEC Rule limits the booking of proved undeveloped
reservesto those reserves that are scheduled to be developed
within five years, unless specific circumstances justify a longer
time. As a result of the five-year requirement, some reserves
previously classified as proved undeveloped were reclassified
in 2009 as unproved reserves, resulting in the recording of
downward revisions.
The SEC Rule expands the definition of oil and gas producing
activities to include synthetic products, such as oil or tar sands.
Additionally, reserve quantities are now reported based on
the final product sold after upgrading, rather than the product
initially produced.
The SEC Rule requires separate disclosure of information
about reserve quantities and financial statement amounts by
geographic area with individual countries that exceed 15% or
more of proved reserves requiring separate disclosure.
The 2009 through 2012 oil and gas reserve information presented
herein was determined in accordance with the SEC Rule; therefore,
some comparisons of 2009 through 2012 results to 2008 and the
five-year average performance measures are calculated using data
presented before and after the SEC Rule was effective.
The addition of reserves associated with synthetic crude and
bitumen resulted in significant oil reserve additions in Canada in
2009. These reserve additions are included in the Revisions
component of the worldwide and Canada reserves tables but are
not included in the performance measure calculations.
Report limitations
Other
Users of this report should keep in mind the following limitations

onthe data presented:
The data included herein was obtained from IHS Herold, Inc. and, in
some cases, the individual companies annual reports.
This report excludes government and privately owned companies

that do not publicly disclose their financial and operational data
and also excludes smaller public companies.
The data included herein is based on each years original disclosures

made by the companies. Restatements or other adjustments made
to costs incurred or revenues and results of operations data in
subsequent years have not been incorporated herein. Restatements
or other adjustments made to oil and gas reserve data are included
in the Other component of the reserve tables, but these amounts
are not included in the performance measure calculations.
Individual companies did not prepare or review the compiled

datapresented in this report.
Oil and gas companies that follow US generally accepted
accounting principles (GAAP) are allowed to select either
successful efforts accounting or full cost accounting for their
oiland gas activities. Some companies included in this report
follow US GAAP, while others follow International Financial
Reporting Standards (IFRS) as adopted by their applicable
country. These variations in standards can result in different
results for some companies.
Data for all companies may not be comparable because of
differing interpretations or applications of reporting requirements.
Oil and gas reserve estimates are imprecise and are revised as
additional information about reserves becomes known.
All currency amounts are reported in US dollars. Foreign currency

amounts were translated using the average exchange rate for
the applicable year based on published exchange rates or rates
disclosed by individual companies. Totals presented may not add
due to rounding.
Data for the following companies are presented based on
their applicable fiscal-year end: BHP Billiton (30 June), INPEX
(31March), Mitsui (31 March), National Fuel Gas (30 September)
and Sasol (30 June).
The following units of measure are used in this report for gas
reserves: Mcf (thousand cubic feet), Bcf (billion cubic feet) and Tcf
(trillion cubic feet).
Certain amounts in this report are presented on a per barrel of oil
equivalent (boe) basis. Natural gas volumes are converted to barrels
at a ratio of six Mcf to one barrel of oil. This ratio has historically
been viewed as being reflective of an approximate thermal
equivalence between the two commodities. Prior to 2005, oil and
natural gas prices were typically closely linked to this ratio. Since
2005, however, oil and natural gas price movements have reflected
their different supply and demand fundamentals and thus have not
necessarily moved in unison. In recent years, oil prices have risen
sharply while North American natural gas prices have remained
fairly weak. At one point in 2013, the observed market ratio of
West Texas Intermediate oil to Henry Hub natural gas prices was as
high as 50-to-1, implying that oil was more than eight times more
costly than an equivalent amount of natural gas (in thermal terms).
However, the volumetric conversion of six Mcf to one barrel of oil
continues to be accepted as industry practice indicative of a longterm outlook on commodity pricing. In spite of this, some individual
companies may use a higher ratio for their internal performance
metrics to more closely reflect market equivalence.
Worldwide study results

Worldwide capital expenditures (millions) (a)
2008
Proved properties acquired
35,578.0
2009
$
15,614.0
2010
$
2011
55,960.2
2012
30,476.9
26,974.3
Unproved properties acquired
56,896.3
15,001.3
119,975.1
64,362.5
50,662.2
Exploration
61,067.4
56,021.5
60,984.5
73,276.3
83,513.2
251,261.6
228,300.7
260,770.6
311,333.1
378,517.4
Development
Other
1,720.4
540.7
486.4
697.0
1,345.1
Total
$ 406,523.6
$ 315,478.3
$ 498,176.9
$ 480,145.9
$ 541,012.2
(a) Includes the 75 largest companies based on 2012 end-of-year oil and gas reserve estimates. Activity related to acquired companies has also
been reflected as described on page 1.
Proved property acquisition costs declined 11% in 2012

to $27.0 billion while unproved property acquisition
costs fell 21% to $50.7 billion. Property acquisition
costs decreased for the study companies in all regions
in 2012 except for Africa and Middle East and the US.
BHP Billiton was the leading purchaser of proved
($4.8billion) and unproved properties ($10.4 billion) in
2012 as a result of its acquisition of Petrohawk Energy.
This transaction was primarily focused on natural gas and
provides BHP Billiton with company-operated resources in
the Eagle Ford, Haynesville and Permian fields in the US.
Plains Exploration & Production posted property
acquisition costs of $4.1 billion (proved) and
$2.1billion (unproved) in 2012, as the company
acquired interests in various Gulf of Mexico fields from
Royal Dutch Shell and BP.
Royal Dutch Shell posted unproved property acquisition
costs of $5.2 billion along with proved costs of
$955.0million. Its most significant activity was in
the US for its purchase of acreage in West Texas from
Chesapeake Energy.
Exploration costs rose 14% from $73.3 billion in 2011
to $83.5 billion in 2012. Development costs were
$378.5 billion in 2012, representing 22% growth from
$311.3 billion in 2011.
The largest increases in combined exploration and

development spending in 2012 were reported by Royal
Dutch Shell ($10.0 billion increase) and PetroChina
($8.7 billion increase).
On a peer group basis, the large independents accounted
for the largest percentage increase in combined
exploration and development spending with their
combined spending increasing 26% (a $23.8 billion
increase). The integrateds had the largest dollar increase
at $51.2 billion (or 21%). The independents posted only
a 5% increase in combined exploration and development
spending, in part due to their reserves being more heavily
weighted toward gas and lower gas prices in the US and
Canada throughout much of 2012 having an impact on
their cash flows and spending ability.
Worldwide capital expenditures
$600
$500
$400
Billions
Total worldwide capital expenditures for the study

companies increased 13% from $480.1 billion in 2011
to $541.0 billion in 2012. Strong growth in exploration
spending and development spending was somewhat
offset by declines in property acquisition costs.
$300
$200
$100
$0
2008
2009
2010
2011
Proved properties
acquired
Unproved properties
acquired
Exploration
Development
2012
Worldwide 2012 capital expenditures leading companies (millions)

BHP Billiton Group

Plains Exploration & Production Company
4,746.0
BHP Billiton Group
$ 10,371.0
4,139.0
Royal Dutch Shell plc
Linn Energy, LLC
2,531.4
PetroChina Company Limited
3,896.6
SandRidge Energy, Inc.
1,761.6
Chesapeake Energy Corporation
2,981.0
Occidental Petroleum Corporation
1,703.0
Total S.A.
Apache Corporation
1,251.0
Apache Corporation
2,355.0
Pengrowth Energy Corporation
1,156.7
Plains Exploration & Production Company (1)
2,102.6
(1)
(1)
5,172.0
2,528.3
(1)
Royal Dutch Shell plc (1)
955.0
Exxon Mobil Corporation (1)
1,875.0
Concho Resources Inc.
828.7
BP p.l.c.
1,763.0
Marathon Oil Corporation
759.0
Exploration
(1)
CNOOC Limited
1,708.8
Development
9,159.0
Petroleo Brasileiro, S.A. (Petrobras) (1)
6,640.0
27,482.0
6,486.7
(1)
21,989.0
BP p.l.c.
(1)
20,984.0
$ 27,559.7
4,581.0
Chevron Corporation
Statoil ASA
3,592.1
17,878.0
China Petroleum & Chemical Corporation

(Sinopec)
3,587.7
Total S.A.
17,694.2
2,861.0
Statoil ASA
15,434.1
Total S.A.
15,247.0
(1)
(1)
2,691.6
BP p.l.c.
Apache Corporation
2,689.0
ConocoPhillips (1)
14,552.0
Petroleos Mexicanos (PEMEX)
2,534.6
Eni SpA
13,185.4
(1)
(1)
(1)
(1)
See company footnotes on page 108.

Worldwide revenues and results of operations (millions) (a)
2008
Revenues
2009
2010
2011
2012
$1,082,210.0
$ 761,396.5
$ 965,111.9
$1,228,879.0
$1,246,530.6
Production costs (b)
254,952.6
212,712.0
262,854.7
343,376.7
362,369.6
Exploration expense
30,732.6
31,098.4
31,585.3
35,943.0
43,748.0
206,931.4
190,646.7
173,462.7
185,887.3
249,226.0
DD&A (c)
Other expenses (d)
Pre-tax results of operations
Income taxes
Results of operations
23,875.8
24,679.9
21,425.2
37,982.0
32,214.7
565,717.6
302,259.5
475,784.0
625,690.0
558,972.3
300,016.8
156,232.4
228,884.2
307,876.9
290,594.0
$ 265,700.8
$ 146,027.1
$ 246,899.8
$ 317,813.1
$ 268,378.3
(b) Includes production taxes, transportation costs and production-related general and administrative expenses for those companies that
separately disclose these expenses.
(c) Includes impairments.
(d) Includes asset retirement obligations accretion for those companies that separately disclose this expense.
Worldwide revenues and results of operations per boe of production ($ per boe) (a)
2008
Revenues
Production costs
15.29
Exploration expense
DD&A
Other expenses
Income taxes
64.91
2009
41.40
2010
$
51.10
2011
$
65.54
11.56
13.92
18.31
2012
$
64.94
18.88
1.84
1.69
1.67
1.92
2.28
12.41
10.37
9.18
9.91
12.98
1.43
1.34
1.13
2.03
1.68
33.93
16.43
25.19
33.37
29.12
18.00
8.49
12.12
16.42
15.14
15.94
7.94
13.07
16.95
13.98
Combined oil and gas production increased 2% in

2012,and revenues saw a 1% increase on an absolute
basis, while revenues on a per-boe-of-production basis
decreased 1%.
Production costs were $362.4 billion in 2012 compared
with $343.4 billion in 2011, representing a 6%
increase. This change was primarily driven by lease
operating expenses, which grew 8% from $193.9 billion
in 2011 to$210.3 billion in 2012.
Depreciation, depletion and amortization (DD&A) was
$249.2 billion in 2012 compared with $185.9 billion
in 2011. Recurring DD&A charges increased 20% in
2012 while property impairments of $33.8 billion were
recorded. Natural gas producers in Canada and the US
were heavily impacted by low natural gas prices with

the largest property impairments recorded in 2012
being recorded by Encana ($4.7 billion), Chesapeake
Energy ($3.3 billion) and Ultra Petroleum ($3.0 billion).
Worldwide revenues and results of operations
$1,400
$1,200
$1,000
Billions
Worldwide after-tax profits for the study companies

declined 16% from $317.8 billion in 2011 to
$268.4billion in 2012.
$800
$600
$400
$200
$0
2008
2009
2010
2011
2012
Revenues
Worldwide 2012 revenues and results of operations leading companies (millions)

Revenues
Exxon Mobil Corporation
(1)
$ 106,545.0
101,342.8
97,841.9
Petroleo Brasileiro, S.A. (Petrobras)
$ 32,811.2
27,063.0

(1)
24,853.0
90,772.0
Chevron Corporation
80,270.0
17,106.0
Chevron Corporation
16,144.0
(1)
(1)
23,839.0
72,779.0
BP p.l.c.
BP p.l.c. (1)
65,634.0
Total S.A. (1)
10,679.0
Total S.A.
57,788.1
10,201.1
Statoil ASA
51,939.7

(Sinopec)
9,746.3
OAO LUKOIL (1)
44,848.0
CNOOC Limited (1)
9,720.4
(1) (3) See
(1)
(1)
(1) (3)
company footnotes on page 108.
Oil reserves
Worldwide proved oil reserves (a) (million barrels) (b)
2008
2009
2010 (c)
2011
2012 (d)
126,850.4
132,252.3
140,753.9
143,108.6
148,074.7
Extensions and discoveries
5,075.8
7,142.3
7,256.1
8,846.2
9,903.6
Improved recovery
1,042.7
1,034.5
1,549.2
1,030.9
1,482.2
Beginning of year
Additions:
Revisions (e)
Production
Purchases
Sales (f)
Other (g)
End of year
829.7
(10,400.0)
12,906.5
593.8
(980.0)
711.6
(1,731.8)
9,239.9
132,252.3
5,446.2
(11,486.2)
6,281.1
(11,674.5)
(11,312.6)
2,399.7
1,350.0
(2,731.7)
(75.2)
1,175.0
(909.6)
109.8
140,753.9
5,728.5
(11,558.6)
(2,920.5)
(319.8)
143,108.6
589.7
148,074.7
152,474.7
(a) Includes condensate and natural gas liquids for all years and includes synthetic crude and bitumen for 2009 through 2012.
(b) Includes the 75 largest companies based on 2012 end-of-year oil and gas reserve estimates. Activity related to acquired companies has also
(c) Beginning-of-year reserves for 2010 include 387.6 million barrels, which represent XTO Energys end-of-year 2009 gas reserves. Sales for
2010 include 387.6 million barrels to reflect the sale of XTO Energys reserves to ExxonMobil.
(d) Beginning-of-year reserves for 2012 include 114.8 million barrels, which represent Petrohawk Energys end-of-year 2011 oil reserves. Sales
for 2012 include 114.8 million barrels, to reflect the sale of Petrohawk Energys reserves to BHP Billiton.
(e) Revisions for 2009 include 6,479.6 million barrels related to the addition of synthetic crude and bitumen due to the SEC Rule. These reserves
are not included in the performance measure calculations.
(f) Sales for 2012 include 584.0 million barrels for the expropriation process of Repsols shares in YPF. This amount is not included in the all
sources production replacement rate calculation.
(g) Includes transfers, reclassifications and other. The 2008 figure includes 9,413.8 million barrels related to the first-time inclusion of
investments accounted for by the equity method. The 2012 figure includes 586.0 million barrels, which represents YPFs 2012 beginning-ofyear oil reserves.
Extensions and discoveries were 9.9 billion barrels in

2012, representing a 12% increase from 2011. For the
second consecutive year, ExxonMobil posted the largest
extensions and discoveries (760.0 million barrels) with
its activity being concentrated in the US and Canada.
PetroChina and Rosneft recorded extensions and
discoveries of 737.0 million barrels and 736.0 million
barrels, respectively, in Asia-Pacific.
After decreasing in 2011, oil production rose 2% in
2012 to 11.6 billion barrels. The largest increases in oil
production were reported by PetroChina (31.0 million
barrel increase) and Marathon Oil (25.0 million barrel
increase). PetroChinas production growth was largely
due to increased volumes from Asia-Pacifics Changqing
field. Marathon Oils largest production gains were
reported in the US and Africa.
Purchases of oil reserves were 1.2 billion barrels in

2012. ExxonMobil (219.0 million barrels) was the
leading purchaser of oil reserves with most of its
activity in the US. Plains Exploration & Production
followed with purchases of 113.2 million barrels for
itspreviously discussed acquisitions.
Sales of oil reserves were 2.9 billion barrels in
2012,with Rosneft (806.0 million barrels) reporting
the largest sales. Repsols sales of oil reserves
were 595.0 million barrels, which primarily related
to theexpropriation of its shares in YFP by the
Argentinegovernment.
Worldwide end-of-year proved oil reserves
160
140
120
Billion barrels
Worldwide end-of-year reserves for the study

companies grew 3% in 2012 and reached 152.5 billion
barrels. Oil reserves increased in all regions in 2012,
except for Europe and Africa and Middle East.
100
80
60
40
20
0
2008
Integrateds
2009
2010
2011
Large independents
2012
Independents
Worldwide 2012 proved oil reserves leading companies (million barrels)

Ending reserves
Production
OJSC Rosneft Oil Company (2)
16,773.0
1,053.0
OAO LUKOIL
13,381.0
917.0
12,816.0
885.0
11,424.0
799.0
11,018.0
BP p.l.c.
10,961.3
741.5
BP p.l.c.
10,050.0
OAO LUKOIL
677.0
(1)
(1)
(1)
749.0
(1)
(1)
Chevron Corporation (1)
6,481.0
646.0
6,196.0
598.0
5,685.0
Total S.A.
Total S.A.
(1) (2)
(1)
(1)
(1)
(1)
446.0
Gas reserves
Worldwide proved gas reserves (Bcf) (a)
Beginning of year
2008
2009
2010 (b)
2011
2012 (c)
513,959.3
596,255.6
617,350.1
633,773.9
636,954.6
36,381.4
60,034.2
52,150.4
59,012.5
64,792.2
2,416.1
1,875.5
2,801.8
1,530.0
2,135.3
Additions:
Improved recovery
Revisions
10,873.4
(9,439.1)
Production
(37,628.7)
(41,440.8)
8,440.0
2,158.5
(43,277.1)
Purchases
10,583.0
17,649.6
20,451.6
12,602.6
Sales (d)
(5,070.9)
(7,580.2)
(24,199.5)
(13,755.7)
Other (e)
64,742.0
End of year
596,255.6
(4.6)
56.6
617,350.1
(28,344.7)
(44,617.0)
(45,814.4)
8,507.6
(16,347.1)
(13,750.2)
633,773.9
2,400.8
636,954.6
624,284.3
(b) Beginning-of-year reserves for 2010 include 12,501.7 Bcf, which represent XTO Energys end-of-year 2009 gas reserves. Sales for 2010
include 12,501.7 Bcf to reflect the sale of XTO Energys reserves to ExxonMobil.
(c) Beginning-of-year reserves for 2012 include 3,355.1 Bcf, which represent Petrohawk Energys end-of-year 2011 gas reserves. Sales for 2012
include 3,355.1 Bcf to reflect the sale of Petrohawk Energys reserves to BHP Billiton.
(d) Sales for 2012 include 2,397.0 Bcf for the expropriation process of Repsols shares in YPF. This amount is not included in the all sources
production replacement rate calculation.
(e) Includes transfers, reclassifications and other. The 2008 figure includes 63,966.7 Bcf related to the first-time inclusion of investments
accounted for by the equity method. The 2011 figure includes (13,323.0) Bcf related to OAO NOVATEKs reserves that were reclassified as
equity method investments. The 2012 figure includes 2,401.0 Bcf, which represents YPFs 2012 beginning-of-year gas reserves.
Worldwide gas reserves for the study companies

decreased 2% in 2012, falling from 637.0 Tcf in 2011 to
624.3 Tcf in 2012. The largest declines were seen in the
US and Canada, where low natural gas prices prompted
the recording of significant downward reserve revisions.
Purchases of gas reserves were 8.5 Tcf in 2012,

with BHP Billiton (3.3 Tcf) and LINN Energy (1.2 Tcf)
accounting for more than half of the activity. LINN
Energys purchases focused on US properties purchased
from BP.
Extensions and discoveries increased 10% in 2012 to

64.8 Tcf. The largest extensions and discoveries were
all related to activity in Asia-Pacific and were reported
by OAO NOVATEK (13.5 Tcf), PetroChina (6.2 Tcf) and
INPEX (5.4 Tcf).
Sales of gas reserves were 16.3 Tcf in 2012. Excluding

the 3.4 Tcf related to Petrohawk Energy, the largest
sales were reported by Repsol (2.4 Tcf), which primarily
related to the expropriation of its shares in YFP by the
Argentine government.
Gas production increased 3% from 44.6 Tcf in

2011to45.8 Tcf in 2012. BHP Billiton reported
thelargest increase in production (452.1 Bcf increase)
primarily due to increased US production related
to its acquisition of Petrohawk Energy. Statoils
gasproduction increased 313.0 Bcf in 2012, with
thelargest increase seen in Norway.
Worldwide end-of-year proved gas reserves

700
600
Tcf
500
400
300
200
100
0
2008
Integrateds
10
2009
2010
2011
Large independents
2012
Independents
Worldwide 2012 proved gas reserves leading companies (Bcf)

Ending reserves
Production
74,091.0
4,797.0
67,581.0
3,687.0
42,792.0
BP p.l.c. (1)
2,887.0
BP p.l.c.
40,305.0
2,559.0
OAO NOVATEK
38,452.0
Total S.A.
2,158.0
Total S.A. (1)
30,877.0
1,857.0
(1)
(1)
(1)
29,195.0
OAO NOVATEK
1,781.0
OAO LUKOIL (1)
23,487.0
Statoil ASA
1,747.0
Eni SpA
20,957.0
ConocoPhillips
19,614.0
Eni SpA
Chevron Corporation
(1)
ConocoPhillips
(1)
(1)
(1)
(1)
(1)
1,722.0
1,649.0
11
Proved reserve acquisition costs, finding and development costs, and reserve
replacement costs
Worldwide proved reserve acquisition costs (PRAC), finding and development costs (FDC) and reserve
replacement costs (RRC) ($ per boe) (a)
PRAC
2008
2009
2010
2011
2012
3-year
5-year
$ 15.09
$ 4.27
$ 9.63
$ 8.83
$ 10.41
$ 9.57
$ 9.22
FDC
24.36
12.84
17.82
16.90
21.83
18.75
18.29
RRC
23.12
11.68
16.27
15.97
20.70
17.50
17.06
After declining in 2011, all measures of reserve costs

rose in 2012. PRAC increased 18% from $8.83 per
boe in 2011 to $10.41 per boe in 2012. The leading
purchasers of proved properties in 2012 posted
diverging results per boe depending upon the mix of
oil and gas reserves purchased. BHP Billiton had a
2012 PRAC of $7.61 per boe for its heavily weighted
gas purchases while Plains Exploration & Productions
purchases were oil-focused and resulted in a 2012
PRAC of $32.75 per boe.
12
FDC increased from $16.90 per boe in 2011 to $21.83

per boe in 2012. The study companies saw a 14%
increase in FDC spending in 2012 while associated
reserve additions declined 12% due to downward gas
reserve revisions.
RRC were $20.70 per boe in 2012 compared with
$15.97 per boe in 2011, representing a 30% increase.
On a regional basis, the highest FDC and RRC in 2012
were seen in Europe, where development spending
grew in both 2011 and 2012, but reserve additions for
both oil and gas declined in 2012.
Worldwide three-year (201012) PRAC, FDC and RRC leading companies* ($ per boe)
PRAC**
FDC
OAO LUKOIL (1)
2.25
OAO NOVATEK
0.82
(1)
3.88
Antero Resources LLC
2.83
4.23
OJSC Rosneft Oil Company
4.14
PDC Energy, Inc.
5.34
Sasol Limited
4.14
Total S.A.
National Fuel Gas Company
5.72
Range Resources Corporation
5.14
Hess Corporation
5.87
Cabot Oil & Gas Corporation
6.12
Quicksilver Resources Inc.
5.91
Rosetta Resources Inc.
6.96
5.96
INPEX CORPORATION
7.11
Cimarex Energy Co.
6.23
EQT Corporation
7.63
6.30
CONSOL Energy, Inc.
10.28
RRC
OAO NOVATEK
0.89
2.88
4.14
Sasol Limited
4.24
5.16
6.12
6.99
INPEX CORPORATION
7.07
EQT Corporation
OAO LUKOIL (1)
7.83
10.04
* Based on companies with results for each year of the three-year period.
** Based on companies with proved acquisition costs of at least $50 million for the three-year period.
(1) See company footnotes on page 108.
13
Production replacement rates

Oil
Worldwide oil production replacement rates (a)
2008
2009
2010
2011
2012
3-year
5-year
All sources
63%
118%
119%
147%
138%
135%
118%
Excluding purchases
and sales
67%
127%
122%
143%
148%
138%
122%
The excluding purchases and sales oil production

replacement was 148% in 2012, representing the
highest level of the five-year study period. This rate
increased from 143% in 2011, primarily due to a 12%
jump in extensions and discoveries in 2012.
Net sales recorded by the study companies resulted in a
slightly lower all sources rate of 138% in 2012.
On a regional basis, Canada posted the highest

excluding purchases and sales oil production
replacement rate in 2012 at 368%. Growth in Canada
was driven by recording of additional bitumen reserves
by ConocoPhillips and ExxonMobil, along with positive
revisions due to strong oil prices.
Europe saw the lowest excluding purchases and sales oil
production replacement rate in 2012 at 51% as recent
increases in capital spending have not yet resulted in
reserve growth.
Worldwide three-year (201012) oil production replacement rates leading companies*

All sources
Excluding purchases and sales
PDC Energy, Inc.
1,081%
1,126%
Laredo Petroleum Holdings, Inc.
1,042
1,025
(1)
977
939
EP Energy LLC
EP Energy LLC (1)
937
888
QEP Resources, Inc.
917
857
Bill Barrett Corporation
916
PDC Energy, Inc.
856
846
784
Continental Resources, Inc.
827
711
Vanguard Natural Resources, LLC
785
QEP Resources, Inc.
711
776
Sasol Limited
652
* Based on companies with at least 5 million barrels of production for the three-year period and companies that had results for each year of the
three-year period.
(1) See company footnotes on page 108.
14
Gas
Worldwide gas production replacement rates (a)

2008
2009
2010
2011
2012
3-year
5-year
All sources
147%
151%
138%
138%
72%
115%
128%
Excluding purchases
and sales
132%
127%
146%
141%
84%
123%
125%
Gas production replacement rates dropped significantly

in 2012 as a 10% gain in extensions and discoveries
was overshadowed by downward revisions of 28.3 Tcf.
The excluding purchases and sales rate was 84% in
2012 whilethe all sources rate was 72%. The downward
revisions were driven by depressed natural gas prices in
the US and Canada.
Canada and the US posted excluding purchases and

salesrates of (158)% and (24)%, respectively, in 2012.
The highest rate was seen in Asia-Pacific with an
excludingpurchases and sales rate of 284%, which was
driven bythe recording of 30.0 Tcf of extensions and
discoveries in 2012.
Worldwide three-year (201012) gas production replacement rates leading companies*

All sources
1,422%
1,287
1,920%
702
Denbury Resources Inc.
888
687
Linn Energy, LLC
843
589
772
Swift Energy Company
523
603
INPEX CORPORATION
516
CONSOL Energy, Inc.
576
487
522
CONSOL Energy, Inc.
481
INPEX CORPORATION
512
470
501
448
*Based on companies that had results for each year of the three-year period.
15
Production costs
Worldwide production costs ($ per boe) (a)

2008
$ 15.29
2009
$ 11.56
2010
$ 13.92
2011
$ 18.31
2012
$ 18.88
3-year
5-year
$ 17.04
$ 15.63
Production costs per boe saw a slight 3% increase in

2012 to $18.88 per boe. Total production costs rose
6%, while combined oil and gas production increased
2%. Lease operating costs, which were 8% higher in
2012, drove the overall increase in total costs.
All three peer groups saw similar increases in
production costs per boe in 2012, with the integrateds
and independents costs increasing 3% each and the
large independents costs rising 4%.
Worldwide three-year (201012)

production costs leading companies ($ per boe)*
EQT Corporation
Southwestern Energy Company
5.52
Total S.A.
6.18
(1) (5)
6.25
6.55
Ultra Petroleum Corporation
6.67
BG Group plc
6.68
6.78
EXCO Resources, Inc.
7.01
7.31
* Based on companies that had results for each year of the

three-year period.
(1) (5) See company footnotes on page 108.
16
$2.45
Worldwide company
statistics
17

for the latest fiscal year
Millions
Proved
properties
acquired
Anadarko Petroleum Corporation
Apache Corporation
Berry Petroleum Company
BG Group plc
BHP Billiton Group
Unproved
properties
acquired
$
239.0
Exploration
$
2,064.0
Development
$
Total capital
expenditures
Other
4,064.0
6,367.0
10.3
687.4
839.2
9.4
1,546.2
1,251.0
2,355.0
2,689.0
7,536.0
13,831.0
70.7
10.7
16.4
714.3
812.1
61.0
1,159.0
6,796.0
8,016.0
4,746.0
10,371.0
1,272.0
6,225.0
22,614.0
6.0
163.0
32.2
754.5
8.3
964.0
311.0
1,763.0
4,581.0
15,247.0
21,902.0
88.9
59.2
821.8
969.9
Canadian Natural Resources Limited
144.1
47.0
262.1
6,406.6
6,859.7
332.0
2,981.0
2,353.0
6,733.0
12,399.0
295.0
1,582.0
2,439.0
20,984.0
25,300.0
3,587.7
11,279.4
14,867.2
BP p.l.c. (1)
China Petroleum & Chemical Corporation (Sinopec)

Cimarex Energy Co.
CNOOC Limited (1)
2.6
117.7
109.2
1,426.9
12.5
1,669.0
1,708.8
2,109.0
8,106.0
11,923.8
828.7
441.0
778.6
725.7
47.3
2,821.3
ConocoPhillips (1)
36.0
925.0
2,309.0
14,552.0
17,822.0
CONSOL Energy, Inc.
50.0
28.6
130.3
339.6
548.6
738.4
745.6
854.4
1,975.7
3.3
4,317.4
491.0
115.3
12.0
1,111.3
1,729.6
18
Proved
properties
acquired
Devon Energy Corporation
Ecopetrol S.A.
73.0
Unproved
properties
acquired
$
1,178.0
Exploration
$
Development
Total capital
expenditures
Other
655.0
6,099.0
8,005.0
37.3
932.3
5,117.8
6,087.3
Encana Corporation
23.0
356.0
834.0
2,460.0
3,673.0
Energen Corporation
79.9
58.6
419.3
749.3
1,307.0
Eni SpA
55.3
2,417.7
13,185.4
15,658.4
0.7
505.3
445.6
5,989.6
127.0
7,068.2
51.0
208.0
1,298.0
62.0
1,619.0
17.0
117.7
4.8
850.9
990.3
47.9
57.3
346.0
1.0
452.2
(1)
EOG Resources, Inc.

EP Energy LLC
(1)
EQT Corporation
332.0
1,875.0
2,861.0
27,482.0
32,550.0
Forest Oil Corporation
64.1
268.9
399.1
732.1
Hess Corporation
267.0
1,089.0
7,505.0
8,861.0
Husky Energy Inc.
6.0
15.0
363.1
4,911.0
5,295.1
7.6
415.4
2,186.8
2,609.8
(1)
INPEX CORPORATION (7)

16.9
3.7
93.3
831.7
7.4
953.0
2,531.4
181.1
0.5
1,062.0
4.7
3,779.7
759.0
505.0
1,856.0
3,527.0
6,647.0
Mitsui & Co., Ltd. (1)
116.5
49.5
350.6
1,860.3
2,377.0
Murphy Oil Corporation
311.5
132.5
449.6
3,348.4
171.7
4,413.7
13.1
13.9
84.6
576.4
10.3
698.3
Linn Energy, LLC
19

for the latest fiscal year
Millions
Proved
properties
acquired
Unproved
properties
acquired
3.0
64.0
993.0
853.0
Nexen Inc.
12.0
752.3
2,733.1
Noble Energy, Inc.
96.0
689.0
2,993.0
3,778.0
974.0
685.0
8,600.0
10,356.0
Newfield Exploration Company
OAO LUKOIL (1)
97.0
OAO NOVATEK
1,703.0
Exploration
Development
Total capital
expenditures
Other
1,913.0
3,497.4
65.3
965.5
1,030.8
613.0
654.0
7,673.0
10,643.0
193.2
740.5
8,885.8
9,819.5
OMV Aktiengesellschaft
350.5
215.7
499.9
1,458.5
49.9
2,574.5
PDC Energy, Inc.
105.3
276.2
20.7
233.1
635.4
1,156.7
705.3
72.1
556.6
4.4
2,495.2
52.0
37.0
241.0
1,595.0
1,925.0
3,896.6
6,486.7
27,559.7
37,943.0

Penn West Petroleum Ltd.
Petrohawk Energy Corporation
616.0

Pioneer Natural Resources Company

QEP Resources, Inc.
(1)
6,640.0
17,878.0
25,134.0
2,534.6
12,042.2
14,576.9
16.9
140.5
964.6
1,824.8
58.9
3,005.8
4,139.0
2,102.6
1,241.1
835.8
8,318.6
714.4
692.6
14.3
1,310.0
2,731.3
29.3
43.5
310.7
383.6
188.8
379.6
1,090.2
58.0
1,716.6
20
Proved
properties
acquired
Repsol S.A.
198.0
Unproved
properties
acquired
$
499.0
Exploration
$
1,036.5
Development
$
1,830.0
Total capital
expenditures
Other
$
3,563.5
18.8
93.5
532.0
644.3
955.0
5,172.0
9,159.0
21,989.0
37,275.0
1,761.6
377.2
120.4
1,705.0
3,964.2
Sasol Limited
1.2
2.2
124.4
1,511.5
1,639.3
SM Energy Company
5.8
115.0
220.9
1,346.2
1,687.9
220.8
197.3
1,492.8
1,910.9
Statoil ASA
51.6
1,100.0
3,592.1
15,434.1
20,177.8
37.2
15.6
670.3
723.1
Talisman Energy Inc.

Total S.A. (1)
21.0
201.0
834.0
3,003.0
709.0
4,768.0
616.0
2,528.3
2,691.6
17,694.2
23,530.1
835.2
48.0
199.6
587.6
705.2
50.4
755.6
19.8
119.2
436.1
1,667.2
2,242.2
WPX Energy, Inc.
111.0
54.0
1,165.0
1,330.0
YPF S.A. (1)
413.3
2,017.4
2,430.7

Whiting Petroleum Corporation
All companies
26,974.3
50,662.2
83,513.2
$ 378,517.4
1,345.1
$ 541,012.2
Integrateds
3,995.1
20,154.8
52,927.2
$ 240,526.9
49.9
$ 317,653.9
Large independents
Independents
(1)(8)
9,101.7
22,395.8
21,115.2
95,112.7
243.9
147,969.3
13,877.5
8,111.7
9,470.8
42,877.7
1,051.4
75,389.1
21

for the latest fiscal year (a)
Millions
Revenues
Anadarko Petroleum Corporation (4)
Apache Corporation
12,396.0
Production
costs (b)
$
3,445.0
Exploration
expense
$
1,946.0
DD&A (c)
$
4,074.0
Other
(income)
expense (d)
$
Results of
operations
Income taxes
$
912.3
(2.0)
2,018.7
390.4
185.5
15.3
194.7
16,947.0
4,088.0
7,011.0
232.0
2,810.0
2,806.0
(3.2)
872.6
311.6
20.9
226.0
106.6
207.6
BG Group plc
11,444.0
1,748.0
684.0
2,177.0
1,579.0
2,876.0
2,380.0
BHP Billiton Group
12,707.0
3,430.0
735.0
5,889.0
1,121.0
1,532.0

BP p.l.c. (1) (3) (6)
Chevron Corporation
(1)
China Petroleum & Chemical

Corporation (Sinopec)
Cimarex Energy Co.
773.4
204.8
8.8
394.7
65,634.0
28,202.0
1,600.0
13,313.0
1,161.6
310.4
37.5
451.4
(2,592.0)
12,024.8
4,739.9
4,322.7
151.1
6,278.0
1,492.0
5,822.0
72,779.0
15,979.0
1,710.0
11,703.0
36,059.8
13,828.4
2,461.8
6,385.4
(2,110.0)
121.8
43.3
8,967.0
16,144.0
161.6
200.7
733.3
2,077.8
(404.0)
(632.0)
21,658.0
23,839.0
3,637.8
9,746.3
1,581.7
402.9
484.5
13.0
251.2
430.0
31,388.5
10,542.8
1,444.3
5,436.2
219.5
4,025.3
9,720.4
1,692.4
343.7
39.8
575.1
4.2
277.8
451.7
39,515.0
12,545.0
1,511.0
8,008.0
963.0
8,354.0
8,134.0
709.8
337.9
203.0
39.0
49.6
80.4
2,379.4
423.9
23.5
805.5
428.1
698.5
2,414.7
682.3
490.5
52.8
457.8
731.3
CNOOC Limited (1)

ConocoPhillips
(1)
CONSOL Energy, Inc.
22
Revenues
7,153.0
Exploration
expense
DD&A (c)
$
4,482.0
Other
(income)
expense (d)
$
109.0
Results of
operations
Income taxes
2,765.0
23,627.7
3,742.2
774.4
1,871.4
Encana Corporation
6,125.0
2,094.0
6,514.0
Energen Corporation
1,167.2
306.4
19.4
394.7
7.5
157.7
281.6
Ecopetrol S.A.
Production
costs (b)
3,615.3
(96.0)
4,483.8
(814.0)
(107.0)
9,140.6
(1,669.0)
43,764.1
6,572.8
2,388.1
8,684.4
2,228.7
14,540.9
9,349.3
EOG Resources, Inc.
7,999.5
2,070.1
200.5
4,295.2
722.9
710.8
EP Energy LLC (1)
1,709.0
508.0
52.0
660.0
43.0
446.0
Eni SpA
(1)
EQT Corporation
793.8
96.2
10.4
409.6
109.7
612.7
207.5
1,649.9
3.9
106,545.0
32,605.0
1,866.0
13,201.0
31,810.0
605.5
156.9
1,347.8
6.5
173.4
10,893.0
3,066.0
1,070.0
3,435.0
1,664.0

Hess Corporation
Husky Energy Inc.
Linn Energy, LLC
Marathon Oil Corporation (6)
168.0
(1,248.5)
27,063.0
(1,079.2)
1,658.0
5,633.3
1,829.7
350.1
2,104.8
390.2
958.4
14,625.9
5,006.3
148.7
277.2
6,435.6
2,758.1
1.2
83.7
156.6
583.6
105.0
237.1
1,725.9
525.0
1.9
1,001.9
12,400.0
2,845.0
729.0
2,759.0
(1.4)
198.5
4,587.0
1,480.0
4,505.6
763.8
249.5
1,002.5
1,167.9
1,321.9
4,608.1
1,234.4
251.1
1,574.2
38.4
605.0
905.0
488.6
107.0
182.8
3.1
81.9
113.8
23

for the latest fiscal year (a)
Millions
Revenues
2,560.0
Production
costs (b)
$
851.0
Exploration
expense
$
DD&A (c)
$
Other
(income)
expense (d)
2,415.0
Results of
operations
Income taxes
$
(239.0)
(467.0)
Nexen Inc.
6,386.6
1,474.6
429.2
1,895.8
400.2
1,746.6
440.3
Noble Energy, Inc.
4,244.0
780.0
438.0
1,474.0
524.0
1,028.0
44,848.0
29,197.0
370.0
3,170.0
2,469.0
9,642.0
OAO LUKOIL (1)
5,944.1
2,641.1
65.1
340.9
579.4
2,317.7
OAO NOVATEK
18,950.0
4,856.0
345.0
5,664.0
990.0
2,919.0
4,176.0
39,084.7
20,572.6
740.5
6,181.4
128.8
2,736.6
8,724.8
7,599.1
1,885.3
515.9
1,414.7
128.0
1,569.6
2,085.6
307.1
77.5
22.6
309.2
4.1
PDC Energy, Inc.
(40.4)
(65.9)
1,203.3
483.6
645.9
20.4
88.6
(35.1)
2,872.1
1,048.4
1,525.6
77.5
220.6
97,841.9
37,404.1
3,799.3
14,975.6
671.5
8,180.1
32,811.2
80,270.0
28,826.0
3,974.0
7,502.0
1,932.0
13,183.0
24,853.0

101,342.8
9,271.5
1,962.7
9,300.5
2,343.3
68,263.7
10,201.1
3,141.9
823.4
206.3
1,342.8
9.9
250.5
509.1
Plains Exploration & Production

Company (1)
2,679.7
681.3
40.3
1,152.0
(0.4)
312.5
493.9
QEP Resources, Inc.
1,393.4
501.1
11.2
971.4
(33.6)
(56.7)
(1,615.7)

24
630.9
287.0
2,759.0
(799.3)
1,393.1
375.5
69.8
606.1
164.4
177.4
Revenues
Repsol S.A.
6,448.0
Production
costs (b)
$
1,580.5
Exploration
expense
$
708.6
DD&A (c)
$
1,120.1
Other
(income)
expense (d)
$
96.5
Results of
operations
Income taxes
$
1,659.0
1,283.4
573.0
111.0
154.2
115.7
192.0
(1)
90,772.0
25,324.0
3,677.0
12,671.0
5,121.0
26,873.0
17,106.0
1,759.3
524.4
568.0
29.0
Sasol Limited
6,028.8
2,140.3
72.7
532.8
1,181.9
SM Energy Company
1,533.4
391.9
90.2
953.1
34.4
63.7
1,948.2
505.3
2,704.9
(502.7)
(759.3)
51,939.7
5,276.5
3,110.9
9,624.8
2,681.2
21,552.7
9,693.6
554.2
164.3
247.2
5.1
58.8
78.7
Statoil ASA
Total S.A. (1) (5)
(437.6)
7,202.0
2,664.0
616.0
5,320.0
57,788.1
5,522.1
1,863.4
10,416.7
12,972.0
(848.0)
810.0
268.7
3,361.4
311.3
103.7
350.2
2,226.0
548.0
59.1
792.6
309.4
16,334.9
(679.7)
2,101.2
(550.0)
10,679.0
(2,140.5)
(142.7)
516.8
WPX Energy, Inc.
2,228.0
1,181.0
83.0
1,191.0
14.0
YPF S.A. (1)
7,000.2
4,177.7
127.9
1,520.7
104.4
388.2
681.3
All companies
$ 1,246,530.6
$ 362,369.6
$ 43,748.0
$ 249,226.0
$ 32,214.7
$ 290,594.0
$ 268,378.3
Integrateds
$ 960,715.8
$ 278,577.8
$ 33,107.9
$ 138,367.0
$ 27,320.6
$ 252,900.5
$ 230,442.1
Large independents
Independents
(88.0)
1,075.5
(153.0)
219,526.6
63,742.0
8,468.0
70,563.9
4,253.5
35,230.9
37,268.2
66,288.2
20,049.8
2,172.1
40,295.1
640.7
2,462.5
668.0
(a) Amounts are determined from the results of operations table if this disclosure is provided; otherwise, amounts are determined from the income statement.
(b) Includes production taxes, transportation costs and production-related general and administrative expenses for those companies that separately disclose these expenses.
(1)(8) See company footnotes on page 108.
25
Worldwide oil reserves for the latest fiscal year (a)

Million barrels
Beginning
Anadarko Petroleum
Corporation
Apache Corporation
BG Group plc
BHP Billiton Group
Improved
recovery
12.0
181.0
118.0
4.0
1,369.5
227.4
(29.7)
178.0
Production
(115.0)
Purchases
(48.0)
23
(97.0)
206.0
54
(145.1)
19.0
(0.1)
1,441.0
19
12.1
(10.0)
8.3
(0.6)
204.2
55
120.4
(63.3)
0.8
1,400.5
20
583.1
13.8
34.1
184.3
(85.3)
73.9
803.9
28
30.6
17.3
6.6
(2.7)
0.3
(1.3)
50.8
68
10,565.0
93.0
229.0
114.0
(749.0)
25.0
(227.0)
10,050.0
(0.2)
24.4
70
3,663.0
12
29
9.6
35.0
545.5
513.4
(3.1)
(2.4)
(143.0)
2.0
(114.8)
(48.9)
4.8
(107.2)
792.8
(23.0)
6,481.0
2,843.0
14
167.8
57
2,383.0
15
271.0
6,455.0
218.0
77.0
390.0
(646.0)
10.0

2,848.0
151.0
163.0
9.0
(328.0)
138.1
64.1
2,165.0
364.0
(7.6)
124.0
(18.5)
0.0
(270.0)
(8.4)
238.3
60.4
(15.9)
(18.0)
30.3
(21.5)
273.5
48
4,901.0
600.0
16.0
229.0
(318.0)
1.0
(56.0)
5,373.0
11
33.3
(25.1)
67.1
(7.2)
561.2
35
(7.5)
(24.5)
24.7
(105.8)
329.1
44
CONSOL Energy, Inc.
326.1
166.8
357.7
14.9
69.5
26
1,172.0
95.0
Ending
rank
8.5
20.5
ConocoPhillips (1)
Ending
237.2
3,403.0
CNOOC Limited (1)
Other (b)
185.9
Cimarex Energy Co.
Sales
1,105.4
Canadian Natural Resources

Limited
Chesapeake Energy
Corporation
Revisions
1,145.0

BP p.l.c. (1)
Extensions
and
discoveries
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
(30.0)
(93.0)
1,389.0
21
42.7
(199.2)
1,370.2
22
210.0
53
211.5
52
1,257.0
255.0
Ecopetrol S.A.
1,371.0
90.4
65.3
Production
Purchases
Encana Corporation
133.2
65.1
28.9
(11.3)
0.1
Energen Corporation
183.5
46.9
(18.1)
(11.3)
10.5
Sales
Other (b)
(6.0)
Ending
Ending
rank
3,434.0
90.0
28.0
182.0
(323.0)
(61.0)
3,350.0
13
EOG Resources, Inc.
745.3
327.3
49.5
(78.3)
1.6
(24.6)
1,020.8
25
EP Energy LLC (1)
200.8
122.8
(6.7)
(12.2)
0.0
(3.9)
300.8
45
EQT Corporation
2.9
0.3
0.3
(0.3)
3.2
73
6.4
0.9
6.2
(1.2)
12.2
72
12,228.0
760.0
23.0
471.0
(799.0)
219.0
(86.0)
12,816.0
76.0
23.5
(6.6)
(5.8)
75.0
65
Hess Corporation
1,169.0
144.0
7.0
12.0
(110.0)
(51.0)
1,171.0
24
Husky Energy Inc.
658.0
43.0
16.0
28.0
(68.0)
(1.0)
676.0
32
714.0
190.0
(8.0)
(64.0)
(2.0)
1.0
831.0
26
Eni SpA
(1)
(1)

Linn Energy, LLC
(12.2)
56.3
57.4
(12.4)
(4.8)
1.7
98.1
62
282.5
50.3
(40.6)
(19.7)
98.4
370.9
39
1,356.0
179.0
2.0
83.0
(118.0)
52.0
99.0
1.0
18.0
(24.0)
9.0
349.7
84.0
7.2
2.6
(41.2)
12.5
43.3
1.3
1.1
(2.9)
1,554.0
18
100.0
61
414.8
38
42.9
69
(3.0)
27
Worldwide oil reserves for the latest fiscal year (a)

Million barrels
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
263.0
55.0
(2.0)
(25.0)
Nexen Inc.
820.0
21.0
19.0
(55.0)
Noble Energy, Inc.

OAO LUKOIL (1)
OAO NOVATEK
(8)
Occidental Petroleum
Corporation

(17.0)
274.0
47
805.0
27
107.0
(48.0)
(42.0)
(29.0)
357.0
41
553.0
65.0
(677.0)
42.0
(5.0)
13,381.0
485.0
91.0
2,288.0
98.0
196.0
16,352.0
736.0
1,375.0
(885.0)
1.0
627.9
1.6
31.4
(59.3)
15.4
(10.4)
(2.9)
(13.1)
57.2
39.1
105.6
13.0
321.0
5.0
25.0
11,128.0
737.0
86.0
2.0
(35.0)
543.0
36
(68.0)
(201.0)
55.0
2,368.0
16
(806.0)
16,773.0
(2.4)
0.2
614.8
33
18.9
(9.8)
92.1
64
30.7
(0.3)
138.5
59
(49.0)
1.0
273.0
49
11,018.0
2.6
1.0
(16.0)
(31.0)
(917.0)
114.8
10,812.4
435.8
343.9
110.7
(741.5)
1,013.0
(114.8)
11,362.0
103.0
(1,053.0)
Pioneer Natural Resources

Company
641.0
126.8
7.5
(28.6)
(33.9)
7.4
(0.9)
Plains Exploration &

Production Company (1)
249.5
45.7
(14.7)
(25.3)
113.2
(1.5)
QEP Resources, Inc.
144.1
40.3
(0.8)
(11.6)
46.9
105.2
3.9
(45.9)
(4.4)
(0.1)
174.0
128.5
5.4
(9.8)
(12.6)
28
Ending
rank
Ending
369.0
Petroleo Brasileiro, S.A.

(Petrobras) (1)
Petrohawk Energy Corporation (9)
Other (b)
13,403.0
PDC Energy, Inc.

Sales
10,961.3
(1.0)
11,424.0
719.4
31
(0.0)
366.8
40
0.0
218.9
51
58.7
67
285.5
46
Beginning
Repsol S.A.
Extensions
and
discoveries
Improved
recovery
39.0
(52.0)
24.0
(595.0)
2.0
429.0
37
(0.0)
(8.0)
0.2
(2.0)
116.0
60
13.0
Sasol Limited
815.6
0.8
99.2
47.7
31.9
1.0
0.2
2,181.0
266.0
629.0
(598.0)
82.0
(66.0)
6,196.0
(22.3)
(18.0)
32.2
(23.6)
330.0
43
11.4
(44.2)
0.5
784.1
30
(6.9)
(16.5)
0.1
(1.0)
154.5
58
(0.0)
(0.1)
(0.8)
0.2
74
(350.0)
1.0
(18.0)
2,305.0
17
225.0
56.8
24.7
16.6
(5.6)
92.5
63
9.6
(20.3)
(48.8)
1.1
(130.1)
262.6
50
(79.0)
5,784.0
283.0
125.0
(446.0)
18.0
33.1
5.4
(19.1)
(1.3)
Vanguard Natural
Resources,LLC
52.2
0.5
(2.5)
(3.4)
297.8
74.7
3.2
WPX Energy, Inc.
Total S.A.
5,685.0
10
18.1
71
14.9
(0.5)
61.2
66
(25.9)
(8.3)
341.4
42
(1.3)
193.2
39.5
(16.6)
(16.4)
18.0
6.0
82.0
(101.0)
All companies
148,074.7
9,903.6
1,482.2
5,728.5
(11,558.6)
1,175.0
Integrateds
118,145.9
4,892.8
1,042.0
4,931.2
(9,137.2)
446.4
(1,840.2)
216.9
(581.3)
511.8
Large independents
22,898.0
3,539.7
290.6
946.7
7,030.8
1,471.1
149.6
(149.4)
YPF S.A. (1) (10)
Independents
451.1
(1)
Ending
rank
88.0
Ending
116.9
Other (b)
33.0
244.8
Statoil ASA
Sales
39.2
6,048.0
Purchases
86.6
SM Energy Company
Production
978.0
(1)
Revisions
198.4
56
586.0
591.0
34
(2,920.5)
589.7
152,474.7
(2,022.4)
587.7
118,886.4
(285.7)
1.0
25,767.1
(612.5)
1.0
7,821.2
(a) Includes condensate, natural gas liquids, synthetic crude and bitumen.
(b) Includes transfers, reclassifications and other.
29
Worldwide gas reserves for the latest fiscal year

Bcf
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Production
635.0
(916.0)
Anadarko Petroleum
Corporation
8,365.0
418.0
3,931.0
1,242.0
Apache Corporation
9,722.3
869.9
(1,614.2)

BG Group plc
BHP Billiton Group
BP p.l.c. (1)
198.0
Purchases
Other (a)
Ending
Ending
rank
26.0
(199.0)
8,329.0
20
(87.0)
(1,590.0)
3,694.0
33
(839.4)
326.6
(1.0)
8,464.2
19
534.3
100.1
(205.8)
(19.8)
16.7
12,854.0
958.0
(544.0)
(1,063.0)
7,503.5
134.9
3.3
(857.1)
3,297.3
447.3
Sales
(22.0)
425.5
72
12,183.0
13
10,529.2
16
1,181.1
83.4
(212.7)
(101.5)
0.3
(211.5)
739.1
62
41,659.0
2,144.0
2,072.0
(1,212.0)
(2,887.0)
248.0
(1,719.0)
40,305.0
2,909.9
869.0
207.0
(253.0)
(37.0)
0.1
3,696.0
32
Canadian Natural
ResourcesLimited
3,650.0
50.0
11.0
(530.0)
(436.0)
34.0
(1.0)
2,778.0
40
Chesapeake Energy
Corporation
15,515.0
3,317.0
(6,080.0)
(1,129.0)
14.0
(704.0)
10,933.0
15
(538.0)
28,683.0
1,011.0
8.0
1,855.0
(1,857.0)
33.0

6,709.0
232.0
109.0
278.0
(598.0)
Cimarex Energy Co.
1,216.4
372.5
(211.4)
(118.5)
0.1
CNOOC Limited (1)
6,049.0
1,087.0
(211.0)
(406.0)
889.3
189.4
(40.5)
(70.6)
157.3
29,195.0
6,730.0
22
1,251.9
53
6,519.0
23
(82.8)
1,042.1
56
(177.0)
19,614.0
10
3,993.5
31
(7.2)
20,916.0
908.0
27.0
(349.0)
(1,722.0)
11.0
CONSOL Energy, Inc.
3,480.0
954.4
(284.6)
(156.3)
1,093.8
400.8
(174.7)
(63.9)
89.1
(4.0)
1,341.1
52
625.2
10.0
(54.7)
(10.7)
20.6
(108.8)
481.6
71
ConocoPhillips
(1)
30
Beginning
Ecopetrol S.A.
Encana Corporation
Energen Corporation
Extensions
and
discoveries
Improved
recovery
10,486.0
1,158.0
2,768.4
298.6
12,840.0
976.0
957.4
61.2
Revisions
(1,250.0)
Production
Purchases
(938.0)
2.0
(189.3)
(3,198.0)
(1,090.0)
46.0
(143.7)
(76.4)
10.7
8.8
Sales
Other (a)
(12.0)
(782.0)
Ending
Ending
rank
9,446.0
17
2,886.5
37
8,792.0
18
809.1
61
20,282.0
1,422.0
1,946.0
(1,649.0)
(1,044.0)
20,957.0
EOG Resources, Inc.
7,850.9
478.1
(2,653.0)
(556.6)
14.8
(394.7)
4,739.5
29
EP Energy LLC (1)
2,782.0
144.0
(660.0)
(249.0)
(72.0)
1,945.0
46
EQT Corporation
5,347.4
1,654.2
(755.8)
(259.4)
(0.7)
5,985.8
24
1,291.5
96.6
(266.5)
(182.7)
(2.8)
936.1
58
76,222.0
4,383.0
(1,873.0)
(4,797.0)
509.0
(353.0)
74,091.0
1,448.3
93.6
(530.7)
(81.0)
(17.3)
912.8
59
(192.0)
2,295.0
43
1,796.0
47
7,354.0
21
Eni SpA
(1)
(1)

Hess Corporation
2,423.0
248.0
4.0
(244.0)
Husky Energy Inc.
1,932.0
411.0
(357.0)
(190.0)
1,981.0
5,364.0
327.0
(316.0)
601.1
232.4
(260.7)
(39.1)
9.2
542.9
66
1,675.0
407.0
(559.0)
(128.0)
1,176.0
2,571.0
42

Linn Energy, LLC
56.0
(2.0)
2,666.0
335.0
(5.0)
(322.0)
105.0
2,779.0
39
1,563.0
147.0
77.0
(195.0)
30.0
1,622.0
49
1,106.1
173.5
7.2
20.2
(179.4)
9.4
1,137.0
54
674.9
436.1
(66.1)
988.4
57
(56.5)
31
Worldwide gas reserves for the latest fiscal year

Bcf
Beginning
Nexen Inc.
Noble Energy, Inc.
OAO LUKOIL (1)
OAO NOVATEK
(8)
Corporation
Extensions
and
discoveries
Improved
recovery
Revisions
Ending
rank
Ending
(527.0)
(153.0)
1.0
(80.0)
1,755.0
48
1.0
(146.0)
(72.0)
(69.0)
196.0
74
5,043.0
659.0
(288.0)
(284.0)
(166.0)
4,964.0
26
23,196.0
693.0
459.0
(845.0)
1.0
(17.0)
23,487.0
26,547.0
13,455.0
231.0
(1,781.0)
38,452.0
5,323.0
803.0
362.0
(470.0)
236.0
5,568.0
25
(686.0)
70.6
54.3
PDC Energy, Inc.
672.1
172.9
(289.4)
501.4
3.1
(69.8)
630.0
15.0
11.0
66,653.0
6,218.0
3,355.1

(Petrobras) (1)
12,424.7
295.4
Petrohawk Energy Corporation (9)
Other (a)
181.0
Sales
482.0
2,796.5
Purchases
2,333.0

Production
(623.5)
174.8
(9.7)
(32.4)
87.2
(6.4)
(78.8)
156.7
(2.4)
(20.0)
(101.0)
(9.0)
(2,731.0)
(2,559.0)
(290.5)
371.0
(865.0)
1,377.0
(3,355.1)
2,795.9
38
604.0
63
510.2
69
526.0
67
67,581.0
(0.1)
11,602.6
14
12,713.0
12
2,197.5
45
510.8
68
12,734.0
162.0
(1,560.0)
Pioneer Natural
ResourcesCompany
2,531.0
320.2
(485.2)
(161.2)
9.5
(16.8)

1,049.4
83.5
(591.4)
(98.5)
79.4
(11.3)
QEP Resources, Inc.
2,749.4
330.6
(240.6)
(249.3)
32.3
2,622.4
41
2,159.5
25.9
(944.3)
(105.6)
(20.6)
1,114.8
55
4,009.7
996.1
(216.6)
(73.4)
4,792.7
28
32
76.9
(0.2)
Beginning
Repsol S.A.
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
Other (a)
6,747.0
691.0
217.0
(392.0)
(2,405.0)
446.0
158.8
(10.1)
(33.9)
0.7
(52.1)
2.0
(0.0)
Ending
Ending
rank
4,860.0
27
509.5
70
(1)
47,662.0
667.0
16.0
(1,343.0)
(3,687.0)
161.0
(684.0)
42,792.0
1,355.1
489.3
(538.2)
(93.5)
203.0
(0.5)
1,415.0
51
Sasol Limited
1,576.3
(98.1)
1,506.3
50
664.0
297.4
125.1
(123.3)
(120.0)
1.2
(11.0)
833.4
60
5,887.2
918.6
(2,088.0)
(564.5)
(136.5)
4,016.8
30
17,680.0
631.0
765.0
(1,747.0)
18.0
(319.0)
17,028.0
11
114.5
(97.3)
(36.4)
597.6
64
(438.5)
(69.1)
(469.1)
1.9
(126.6)
3,642.9
34
250.0
(2,158.0)
706.0
(238.0)
30,877.0
SM Energy Company
Statoil ASA
Total S.A. (1)
Vanguard Natural
Resources,LLC
WPX Energy, Inc.
616.8
4,744.3
(0.8)
28.9
30,717.0
1,600.0
4,778.6
819.9
(2,382.7)
(249.3)
162.8
0.3
(9.5)
(19.7)
446.1
285.0
40.9
(61.8)
(25.8)
4,057.9
414.9
(422.8)
(415.6)
31.0
4.0
All companies
636,954.6
64,792.2
2,135.3
Integrateds
429,042.9
34,399.6
1,588.7
Large independents
142,652.8
20,486.5
403.3
65,258.9
9,906.2
143.3
(12,224.7)
YPF S.A.
(1) (10)
Independents
228.0
2,966.4
36
(33.5)
546.5
65
(14.0)
224.3
73
5.8
(217.0)
3,423.2
35
44
(442.0)
2,401.0
2,222.0
(45,814.4)
8,507.6
(16,347.1)
2,400.8
624,284.3
1,043.0
(28,840.9)
1,880.8
(7,518.7)
2,402.9
433,998.3
(17,163.0)
(11,982.2)
4,122.2
(2,549.7)
(2.0)
135,967.8
(4,991.3)
2,504.6
(6,278.7)
(0.1)
54,318.2
(28,344.7)
(a) Includes transfers, reclassifications and other.

33
Worldwide performance measures

(three-year averages) (a)
Costs in $ per boe, production replacement rates in %
Oil
PRAC
4.00
4.23
FDC
$
15.31
2.83
RRC
$
15.26
2.88
All sources
151%
18,718
Gas
Excluding
purchases
and sales
172%
27,355
All sources
122%
1,287
Excluding
purchases
and sales
132%
1,920
13.50
10.67
Apache Corporation
16.99
49.36
31.28
192
115
128
10.02
69.25
27.59
375
203
(205)
(280)
BG Group plc
15.76
14.42
14.44
455
453
132
133
6.68
6.82
38.08
19.24
180
153
453
98
13.64
10.32
25.87
23.34
916
784
38
95
10.21
BP p.l.c.
14.10
16.78
16.54
81
103
47
84
18.99
7.79
6.12
6.12
452
480
402
448
6.55
12.37
17.55
16.48
260
231
69
11
20.68
23.02
21.13
21.16
776
888
16
172
6.25
BHP Billiton Group
(1)

Canadian Natural
ResourcesLimited
32
Production
costs
13.43
20.80
5.96
24.55
22.91
76
74
157
147
14.35
30.57
30.57
92
92
99
99
29.29
Cimarex Energy Co.
6.23
15.97
15.74
326
344
118
172
10.90
CNOOC Limited (1)
6.92
25.20
19.89
190
137
146
93
25.82
15.62
22.81
19.89
406
291
501
328
11.92
ConocoPhillips (1)
95.87
15.97
16.20
16
178
16
74
19.44
9.72
10.28
10.11
576
481
12.88
Chevron Corporation
(1)

CONSOL Energy, Inc.

34
9.60
13.09
12.61
827
711
772
702
11.83
12.08
21.49
15.70
299
264
888
283
25.31

Oil
PRAC
Ecopetrol S.A.
13.01
23.72
FDC
$
20.54
16.30
RRC
$
All sources
Gas
Excluding
purchases
and sales
20.46
214%
231%
16.56
145
142
All sources
89%
205
Excluding
purchases
and sales
99%
187
Production
costs
$
10.49
14.29
Encana Corporation
8.07
19.72
18.82
569
631
35
88
10.77
Energen Corporation
8.52
29.10
21.11
485
297
60
36
12.44
165
187
10.33
(133)
(74)
11.07
30.16
18.29
18.30
89
96
EOG Resources, Inc.
1.08
27.32
27.14
508
530
EP Energy LLC (1)
7.05
12.38
12.27
937
977
Eni SpA (1)
51
80
8.83
EQT Corporation
20.02
7.63
7.83
299
291
424
418
2.45
11.04
25.07
23.18
353
370
102
114
7.01
17.98
7.81
24.78
18.24
146
128
142
55
5.78
92.92
89.67
210
262
(73)
(49)
Hess Corporation
5.87
41.87
32.33
164
143
30
66
17.87
Husky Energy Inc.
9.64
35.27
28.48
155
137
149
68
16.87
7.11
7.07
108
110
512
516
33.47

Linn Energy, LLC
Mitsui & Co., Ltd.
(1)

7.32
5.31
13.68
13.51
1,042
1,025
386
376
8.65
10.25
26.27
12.70
647
165
843
65
13.69
14.19
25.53
23.01
206
161
106
84
15.44
9.06
37.76
33.10
67
65
104
95
12.12
19.76
25.54
25.26
181
171
180
173
16.30
5.72
11.22
10.96
58
74
603
589
7.91
35
Worldwide performance measures

(three-year averages) (a)
Oil
PRAC
(61)%
(32)%
Production
costs
39.78
272%
293%
74
90
12
42
Noble Energy, Inc.
6.54
16.98
15.35
120
152
338
316
8.26
OAO LUKOIL (1)
2.25
10.44
10.04
85
80
127
127
32.44

PDC Energy, Inc.
All sources
52.64
OAO NOVATEK
41.90
All sources
Excluding
purchases
and sales
52.65
RRC
Excluding
purchases
and sales
51.12
Nexen Inc.
13.56
FDC
Gas
16.31
19.66
0.82
0.89
191
264
332
420
7.44
16.30
35.08
27.46
127
86
144
59
14.60
4.14
4.14
209
240
19.90
17.27
35.37
31.07
66
53
94
71
17.49
5.34
18.40
12.61
1,081
856
95
(4)
9.58
19.39
46.69
32.66
219
130
144
49
(53.47)
30.84
21.61
79
140
50
58
20.91
20.30
20.30
91
91
160
160
25.62
18.00

(Petrobras) (1)
33.05
33.23
129
130
123
123
29.89
10.97
10.97
92
92
115
115
6.78
1.89
17.72
17.02
409
420
35
45
12.45

Company (1)
31.10
64.65
47.12
339
174
(25)
28
14.90
QEP Resources, Inc.

Company
13.57
16.23
15.82
917
711
114
110
5.91
(13.65)
(19.23)
(209)
(208)
(111)
(149)
11.98
6.30
5.14
5.16
939
522
687
7.31
36
1,126
8.31

Oil
PRAC
Repsol S.A.
8.84
FDC
$
8.76
13.03
RRC
$
6.96
12.76
6.99
All sources
Gas
Excluding
purchases
and sales
(30)%
124%
846
857
All sources
12%
301
Excluding
purchases
and sales
131%
Production
costs
$
470
14.12
7.64
(1)
7.94
26.71
25.62
128
129
42
55
18.41
20.70
12.71
14.85
704
601
407
487
15.06
Sasol Limited
12.99
4.14
4.24
652
652
45
21
33.58
SM Energy Company
19.31
14.67
14.67
392
457
231
252
10.54
7.85
16.42
16.42
(132)
91
125
141
5.52

Statoil ASA
Total S.A. (1) (5)
10.27
29.78
28.15
122
118
76
77
8.63
12.79
13.81
276
309
449
523
14.71
23.52
48.11
45.15
(31)
48
47
114
18.52
3.88
32.92
19.38
100
56
171
103
6.18
(11)
(11)
6.67
(195.38)
(195.38)
(175)
(175)
12.34
88.28
12.92
785
55
(51)
16.61
38.91
25.93
26.01
280
294
(4)
22
17.37
WPX Energy, Inc.
14.30
20.69
20.02
386
338
41
56
13.47
16.22
16.22
105
105
60
60
YPF S.A. (1)
1,422
23.92
All companies
9.57
18.75
17.50
135%
138%
115%
123%
17.04
Integrateds
7.32
18.18
16.99
115%
118%
123%
118%
17.83
Large independents
11.39
19.71
18.34
180
202
79
119
15.33
Independents
12.72
20.14
18.50
287
270
139
166
13.52
(a) Performance measures are based on less than three years of results for companies that have had operations for less than three years.
37
38
Summary of 2012
study results
39
Summary of 2012 study results

Includes the 75 largest companies based on 2012 end-of-year oil and gas reserve estimates.
Activityfor acquired companies has also been reflected as described on page 1.
Worldwide
Africa and
Middle East
Asia-Pacific
Canada
South and
Central
America
Europe
US
Other/
unspecified
2012 capital expenditures (millions)

$ 26,974.3
138.6
350.5
1,701.1
854.8
169.0
$ 22,836.1
924.2
50,662.2
4,605.4
7,546.4
1,510.7
197.4
217.3
34,058.6
Exploration
83,513.2
7,656.6
19,676.0
4,030.7
4,491.2
11,618.4
27,498.2
8,542.3
378,517.4
30,371.3
100,874.5
33,160.4
37,531.1
38,594.5
104,734.0
33,251.6
Development
Other
1,345.1
18.0
129.6
199.2
400.0
439.3
144.0
$ 541,012.2
$ 42,789.8
$ 128,577.0
$ 40,602.1
$ 43,474.5
$ 50,614.1
$ 189,566.2
$ 45,388.5
$ 1,246,530.6
$ 151,588.3
$ 377,998.7
$ 49,002.2
$ 141,502.7
$ 219,323.9
$ 182,666.7
$ 124,448.1
Production costs (a)
362,369.6
22,273.9
145,430.7
20,727.3
31,029.0
48,769.1
57,369.9
36,769.7
Exploration expense
43,748.0
5,094.0
12,010.5
1,868.6
3,288.0
7,167.5
7,140.4
7,179.1
249,226.0
23,909.2
51,919.3
22,866.9
23,487.0
21,750.1
86,882.2
18,411.2
32,214.7
4,122.5
34.5
2,924.1
1,771.5
8,327.1
400.9
14,634.1
558,972.3
96,188.7
168,603.8
615.3
81,927.1
133,310.1
30,873.3
47,454.1
Total
15.0
2,526.4
2012 revenues and results of operations (millions)

Revenues
DD&A (b)
Other expenses (c)
Income taxes
290,594.0
57,955.9
57,465.9
$ 268,378.3
$ 38,232.8
$ 111,137.8
48.6
53,263.6
87,135.8
11,427.5
23,296.6
566.7
$ 28,663.5
$ 46,174.3
$ 19,445.8
$ 24,157.5
(a) Includes production taxes, transportation costs and production-related general and administrative expenses for those companies that separately disclose these expenses.
(b) Includes impairments.
(c) Includes asset retirement obligations accretion for those companies that separately disclose this expense.
2012 proved oil reserves (a) (million barrels)

Beginning of year
148,074.7
11,425.2
58,562.3
14,296.5
7,796.1
24,432.3
20,903.2
10,659.1
9,903.6
487.2
2,768.6
996.5
194.5
683.2
3,795.5
978.1
Improved recovery
1,482.2
119.7
318.2
75.2
13.0
403.5
520.0
5,728.5
447.6
2,433.0
950.9
219.4
1,224.5
(4,130.3)
(549.3)
(837.6)
(2,136.0)
Additions:
Revisions
Production
Purchases
Sales
Other (b)
End of year
(11,558.6)
1,175.0
(2,920.5)
589.7
152,474.7
(1,324.7)
(144.1)
(0.5)
11,010.4
40
26.4
(934.1)
2.0
59,046.2
38.9
89.4
(68.7)
(263.2)
1.0
15,741.1
(594.0)
0.1
585.0
7,211.7
24,598.5
(95.7)
(1,640.2)
906.0
(865.9)
0.0
23,523.0
32.6
548.7
(940.6)
114.4
(50.6)
2.1
11,343.8
Canada
Europe
South and
Central
America
202,004.5
26,008.9
63,287.4
45,328.2
184,651.1
80,100.7
1,354.0
30,003.1
1,477.4
972.7
1,885.0
24,665.0
4,435.0
103.0
273.2
21.2
97.0
147.5
1,382.4
111.0
Worldwide
Africa and
Middle East
636,954.6
35,573.8
64,792.2
2,135.3
Asia-Pacific
US
Other/
unspecified
2012 proved gas reserves (Bcf)

Beginning of year
Additions:
Improved recovery
Revisions
(28,344.7)
Production
(45,814.4)
Purchases
8,507.6
Sales
1,602.2
(11,236.8)
(16,347.1)
Other (a)
End of year
154.1
(2,714.4)
3.6
(445.9)
2,400.8
624,284.3
34,024.7
(5,869.7)
1,444.7
2,046.9
(29,337.0)
1,614.1
(2,757.9)
(5,706.4)
(4,449.5)
(13,601.1)
(5,348.3)
235.6
(1,018.1)
190.5
(872.5)
(2.0)
221,629.7
18,243.1
(2,029.3)
(2,426.0)
(0.1)
58,256.4
7,286.1
791.8
(9,273.6)
(281.7)
2,362.0
(0.1)
41.0
44,894.1
165,772.8
81,463.6
2012 performance measures (costs in $ per boe, production replacement rates in %)

PRAC
10.41
12.99
21.76
7.06
10.78
3.75
FDC
21.83
32.24
11.84
30.06
50.38
16.87
45.40
17.19
RRC
20.70
32.34
11.84
29.59
44.95
16.92
32.73
16.02
Oil production replacement rates:

All sources
138%
69%
112%
363%
30%
108%
260%
173%
148%
80%
134%
368%
51%
108%
257%
166%
72%
43%
275%
(182)%
12%
91%
(39)%
125%
Gas production replacement rates:

All sources
Production costs
84%
$
18.88
59%
$
12.76
284%
$
24.56
(158)%
$
20.54
44%
$
17.35
92%
$
16.95
(24)%
$
14.68
115%
$
17.38
41
42
Africa and
Middle East
43
Africa and Middle East

Includes the 75 largest companies based on 2012
end-of-year oil and gas reserve estimates.
Africa and Middle East capital expenditures (millions)
2008
2,098.0
2009
$
1,487.5
2010
$
1,007.5
2011
$
125.0
2012
$
138.6
2,380.9
383.8
948.0
3,704.7
4,605.4
Exploration
6,464.2
6,046.8
4,979.8
5,216.9
7,656.6
26,910.8
28,330.7
29,864.2
28,609.8
30,371.3
Development
Other
Total
657.8
0.9
5.8
$ 38,511.8
$ 36,249.6
$ 36,805.3
(27.0)
$ 37,629.4
18.0
$ 42,789.8
Africa and Middle East revenues and results of operations (millions)

2008
Revenues
2009
2010
2011
2012
$ 129,875.6
$ 93,269.9
$ 121,497.8
$ 138,125.5
$ 151,588.3
15,707.6
15,287.7
19,206.5
21,600.5
22,273.9
Exploration expense
3,989.1
4,549.1
3,792.9
3,664.3
5,094.0
16,228.5
19,621.0
21,823.7
19,744.9
23,909.2
DD&A (b)
Other expenses (c)
Income taxes
4,937.5
3,609.8
2,112.5
2,824.8
4,122.5
89,013.0
50,202.3
74,562.2
90,290.9
96,188.7
54,195.9
29,486.3
43,665.8
51,241.1
57,955.9
$ 34,817.1
$ 20,716.1
$ 30,896.4
$ 39,049.8
$ 38,232.8
(a) Includes production taxes, transportation costs and production-related general and administrative expenses for those companies that
Africa and Middle East proved oil reserves (a) (million barrels)
2008
2009
2010
2011
2012
11,229.3
11,851.2
11,730.4
12,714.5
11,425.2
440.4
500.8
607.0
128.1
487.2
Improved recovery
132.0
167.3
136.9
120.1
119.7
1,439.2
536.3
1,346.0
146.7
447.6
Beginning of year
Additions:
Revisions
Production
Purchases
Sales
Other (b)
End of year
(1,342.8)
32.0
(78.7)
(0.2)
11,851.2
(1,442.1)
13.0
55.3
(1,260.2)
7.4
(1,324.7)
(48.0)
(82.6)
(124.6)
(144.1)
152.0
442.0
(306.8)
(0.5)
11,730.4
12,714.5
44
(1,520.5)
11,425.2
11,010.4
Africa and Middle East proved gas reserves (Bcf)

Beginning of year
2008
2009
2010
2011
2012
31,189.3
32,388.7
34,498.0
37,031.4
35,573.8
479.0
1,743.7
3,796.7
1,078.4
1,354.0
37.0
60.0
105.0
110.0
103.0
Additions:
Improved recovery
Revisions
Production
2,930.5
1,377.2
1,334.8
(2,253.0)
(2,289.7)
(2,608.8)
Purchases
Sales
Other (a)
6.0
737.0
(0.1)
End of year
32,388.7
(3.0)
(2,603.2)
57.9
34.2
(153.0)
(90.0)
154.1
(2,714.4)
(445.9)
481.0
0.8
15.9
34,498.0
37,031.4
35,573.8
34,024.7
Africa and Middle East proved reserve acquisition costs (PRAC), finding and development costs (FDC) and
reserve replacement costs (RRC) ($ per boe)
2008
2009
2010
$ 63.58
$ 10.95
$ 15.52
FDC
14.08
20.04
RRC
14.70
19.38
PRAC
2011
2012
3-year
5-year
9.54
$ 16.29
$ 19.67
12.08
63.30
32.24
23.77
20.34
12.16
62.14
32.34
23.65
20.33
Africa and Middle East oil production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
146%
81%
136%
22%
69%
79%
93%
Excluding purchases
and sales
150
84
137
31
80
86
98
Africa and Middle East gas production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
153%
171%
197%
43%
43%
94%
119%
Excluding purchases
and sales
153
139
201
46
59
101
118
Africa and Middle East production costs ($ per boe)

2008
2009
2010
2011
2012
3-year
5-year
$ 9.14
$ 8.38
$ 9.96
$ 12.96
$ 12.76
$ 11.81
$ 10.59
45
Africa and Middle East capital expenditures for the latest fiscal year
Millions
Proved
properties
acquired
Apache Corporation
28.0
Unproved
properties
acquired
$
Exploration
$
696.0
Development
$
394.0
Other
$
Total capital
expenditures
$
1,118.0
BP p.l.c.
239.0
1,024.0
2,992.0
3.0
11.0
75.0
89.0
8.0
5.0
321.0
3,118.0
3,452.0
CNOOC Limited
1,708.5
201.9
436.2
2,346.6
ConocoPhillips
333.0
94.0
208.0
635.0
6,459.6
Chevron Corporation
Eni SpA
4,255.0
52.7
1,665.4
4,741.5
EP Energy LLC
2.0
2.0
15.0
520.0
3,081.0
3,616.0
Hess Corporation
260.0
506.0
766.0
244.6
13.6
231.0
86.0
48.0
390.0
524.0
Mitsui & Co., Ltd.
20.1
155.8
176.0
51.1
5.0
17.6
73.7
Noble Energy, Inc.
181.0
1,084.0
1,265.0
2,153.0
14.0
114.0
2,025.0
113.3
171.0
0.4
284.7
86.0
285.0
371.0
Repsol S.A.
141.5
168.5
66.9
376.8
2,388.0

Sasol Limited
Statoil ASA
Total S.A.
96.0
559.0
1,733.0
1.2
0.6
65.3
612.8
679.7
653.1
2,096.8
2,750.0
788.3
5,963.2
8,764.1
All companies
138.6
4,605.4
7,656.6
$ 30,371.3
18.0
$ 42,789.8
Integrateds
96.6
2,474.9
Large independents
Independents
(1)(8)
46
34.7
1,977.9
6,243.9
$ 25,523.1
0.4
$ 34,338.9
42.0
2,130.5
1,359.5
4,843.2
8,375.3
53.1
5.0
17.6
75.7
Africa and Middle East revenues and results of operations for the latest fiscal year (a)
Millions
Revenues
Apache Corporation
9,057.0
1,323.0
574.2
164.1
16,513.0
CNOOC Limited
ConocoPhillips
(6)

Chevron Corporation
Eni SpA
EP Energy LLC
Hess Corporation
INPEX CORPORATION
(7)

Mitsui & Co., Ltd.
4,554.0
Exploration
expense
449.0
BP p.l.c.
Production
costs (b)
DD&A (c)
$
Other
(income)
expense (d)
Results of
operations
Income taxes
924.0
1,527.0
310.0
2,281.0
245.0
2,371.0
165.1
7.0
55.0
183.1
2,079.0
427.0
2,491.0
265.0
7,558.0
3,693.0
2,324.4
273.7
101.0
689.4
8.6
679.8
572.0
1,997.0
61.0
55.0
44.0
8.0
1,728.0
101.0
25,398.7
3,506.9
1,473.8
3,712.7
1,779.8
9,904.8
5,020.6
20,577.0
4,097.0
234.0
2,879.0
8,091.0
79.5
2,545.0
423.0
84.0
528.0
905.0
1,654.0
2,527.0
5,276.0
(79.5)
605.0
2,851.0
224.0
19.0
135.0
1,999.0
474.0
754.4
73.7
31.7
163.7
290.2
195.0
(64.5)
(241.1)
57.6
51.6
76.8
233.9
0.9
Noble Energy, Inc.
1,521.0
136.0
3.0
397.0
249.0
736.0
7,486.0
1,061.0
112.0
1,404.0
224.0
2,159.0
2,526.0
426.6
154.2
171.0
135.2
46.7
9.8
2,254.0
178.0
81.0
207.0
Repsol S.A.
(176.0)
929.0
(90.3)
1,035.0
2,053.8
246.9
118.3
99.0
1.3
1,147.1
441.1
13,171.0
2,788.0
699.0
1,261.0
5,358.0
3,387.0
Sasol Limited
5,820.3
2,090.6
20.5
341.4
1,212.4
2,155.4
Statoil ASA
6,496.8
601.6
584.4
1,839.0
85.9
1,856.2
1,529.7
Total S.A.
(322.0)
25,155.6
2,291.7
492.5
3,899.2
1,948.3
9,991.0
6,532.9
All companies
$ 151,588.3
$ 22,273.9
5,094.0
$ 23,909.2
$ 4,122.5
$ 57,955.9
$ 38,232.8
Integrateds
$ 130,223.1
$ 19,853.5
4,727.2
$ 19,837.3
3,874.0
$ 49,623.6
$ 32,307.4
21,307.6
2,368.8
290.0
3,758.5
247.6
8,396.8
6,246.1
57.6
51.6
76.8
313.4
0.9
(5)
Large independents
Independents
(64.5)
(320.6)
(a) Amounts are determined from the results of operations table if this disclosure is provided; otherwise, amounts are determined from the income statement. Revenues
determined from the income statement include oil and gas sales and hedging and derivative gains/losses.
47
Africa and Middle East oil reserves for the latest fiscal year (a)
Million barrels
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
Other (b)
Ending
Ending
rank
Apache Corporation
128.0
36.2
(3.7)
(36.5)
124.0
17
BP p.l.c.
626.0
2.0
13.0
(1.0)
(73.0)
567.0
88.0
1.0
1.0
(5.0)
85.0
19
1,155.0
30.0
30.0
66.0
(151.0)
1,130.0
Canadian Natural
ResourcesLimited
Chevron Corporation
CNOOC Limited
134.0
23.0
(21.0)
136.0
15
ConocoPhillips
261.0
7.0
2.0
(24.0)
246.0
12
1,587.0
75.0
27.0
81.0
(188.0)
1,576.0
1,463.0
41.0
20.0
1,293.0
Hess Corporation
250.0
17.0
(5.0)
(28.0)
234.0
13
404.0
1.0
(31.0)
357.0
7.0
1.0
(28.0)
22.0
1.0
2.3
Eni SpA
EP Energy LLC
Mitsui & Co., Ltd.

Noble Energy, Inc.
106.0
Corporation
441.0
91.0
30.0
(173.0)
(6.0)
(58.0)
(2.0)
(1.0)
371.0
337.0
10
(5.0)
18.0
21
(0.7)
9.0
(15.0)
100.0
18
(3.0)
(70.0)
489.0
(1.6)
35.6
2.2
(4.6)
0.1
33.3
20

(Petrobras)
118.1
18.7
22.4
(19.0)
140.2
14
0.2
(0.2)
Repsol S.A.
115.0
3.0
23.0
(16.0)
125.0
16
731.0
1.0
95.0
(106.0)
688.0
Sasol Limited
811.9
10.3
(42.7)
0.4
779.9
Statoil ASA
313.0
42.0
(56.0)
299.0
11
2,276.0
176.0
63.0
(231.0)
(45.0)
2,239.0
11,425.2
487.2
119.7
447.6
(1,324.7)
(144.1)
Integrateds
9,503.6
346.0
88.7
418.9
(1,093.3)
(142.0)
Large independents
1,919.3
141.2
31.0
30.3
(230.7)
(2.1)
2.3
(0.7)
Pioneer Natural
ResourcesCompany
Total S.A.
All companies
Independents
48
(1.6)
(0.1)
(33.0)
(0.5)
11,010.4
0.5
9,122.4
(1.0)
1,888.0
Africa and Middle East gas reserves for the latest fiscal year
Bcf
Beginning
Apache Corporation
BP p.l.c.
Canadian Natural
ResourcesLimited
Chevron Corporation
CNOOC Limited
ConocoPhillips
Eni SpA
EP Energy LLC
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
Other (a)
Ending
Ending
rank
983.0
56.0
(14.0)
(129.5)
895.5
12
3,257.0
1.0
69.0
(14.0)
(251.0)
3,062.0
54.0
(6.0)
48.0
16
3,196.0
2.0
(87.0)
3,081.0
913.0
11
(89.0)
(30.0)
872.0
2.0
109.0
(70.0)
8,139.0
114.0
284.0
(829.0)
7,619.0
10
2.0
929.0
Hess Corporation
1,633.0
8
18
1,675.0
111.0
9.0
37.0
4.0
(3.0)
Noble Energy, Inc.
3,055.0
58.0
Corporation
1,925.0
784.0
118.5

(Petrobras)
Pioneer Natural
ResourcesCompany
Mitsui & Co., Ltd.

(162.0)
(4.0)
(12.0)
982.0
(43.0)
34.0
(22.0)
(123.0)
2,968.0
34.0
62.0
(165.0)
2,640.0
47.1
(32.0)
133.6
15
39.3
6.2
45.5
17
12.7
(3.8)
(8.9)
19
165.0
(1.0)
(12.0)
152.0
14
2,800.0
89.0
(142.0)
(343.0)
(163.0)
Sasol Limited
1,521.4
(81.1)
Repsol S.A.
Statoil ASA
10.8
2,241.0
1,451.1
431.0
(49.0)
(41.0)
341.0
13
6,311.0
133.0
(101.0)
(332.0)
(173.0)
5,838.0
Total
35,573.8
1,354.0
103.0
154.1
(2,714.4)
(445.9)
34,024.7
Integrateds
26,997.2
343.0
69.0
10.1
(2,055.1)
(437.0)
24,927.2
8,576.6
1,011.0
34.0
144.0
(659.3)
(8.9)
9,097.5
Total S.A.
Large independents
Independents

49
Africa and Middle East performance measures (three-year averages) (a)

Oil
PRAC
Apache Corporation
108%
97%
76.39
(36)
(24)
170
178
9.83
Canadian Natural
ResourcesLimited
(21.65)
(21.65)
(65)
(65)
(118)
(118)
19.98
Chevron Corporation
24.51
24.53
75
75
127
127
10.50
CNOOC Limited
27.76
27.76
169
169
9.84
ConocoPhillips
19.45
19.45
68
68
81
81
7.27
Eni SpA
23.30
23.36
85
88
82
86
10.48
EP Energy LLC
50.04
50.05
30
41
107
117
21.13
Hess Corporation
44.74
44.74
14
41
13.96
811.71
811.71
11.11
11.12
82
37.33
107
47.84
Noble Energy, Inc.
8.25
2.57
2.41

(Petrobras)
Company
(114.76)
(121.88)
22%
Production
costs
22.99
(1)
34%
Excluding
purchases
and sales
76.39
Repsol S.A.
All
sources
15.60
23.85
RRC
Excluding
purchases
and sales
BP p.l.c.
Mitsui & Co., Ltd.
17.55
FDC
All
sources
Gas
6.83
82
66
66
3.65
71
17
17
11.59
32.91
3.05
(72)
(72)
8.25
127
127
542
542
18.67
17.08
67
53
195
195
8.95
45.34
35.37
75
66
111
72
10.14
11.12
10.39
148
148
6.62
5.93
5.93
(281)
511
(108)
28
2.66
14.58
14.58
107
107
211
211
13.07
21.17
14.59
14.81
87
104
17
44
15.55
Sasol Limited
2.38
2.38
666
666
16
16
34.45
Statoil ASA
49.45
49.45
93
93
102
102
9.62
(23)
(2)
7.08
94%
101%
$ 11.81
52.37
53.41
41
59
All companies
$ 16.29
$ 23.77
$ 23.65
79%
86%
Integrated
Total S.A.
(5)
Large independents
Independents
28.99
8.48
25.65
25.67
81%
90%
16.82
16.46
73
71
(117.79)
(124.91)
(72)
(72)
63%
12.75
185
7.19
32.91
50
73%
186
Asia-Pacific
51
Asia-Pacific
Asia-Pacific capital expenditures (millions)
2008
1,456.4
2009
$
2,530.7
2010
$
2,465.7
2011
$
2,287.5
2012
$
350.5
1,999.3
949.1
1,726.6
5,986.8
7,546.4
Exploration
13,154.6
12,239.6
14,711.2
17,110.1
19,676.0
Development
69,862.8
59,695.0
66,675.9
76,609.9
100,874.5
Other
Total
38.3
28.6
24.1
16.3
129.6
$ 86,511.4
$ 75,442.9
$ 85,603.6
$ 102,010.7
$ 128,577.0
Asia-Pacific revenues and results of operations (millions)

2008
Revenues
2009
2010
2011
2012
$ 309,506.0
$ 213,604.8
$ 275,847.9
$ 363,323.8
$ 377,998.7
112,404.5
74,001.1
99,338.6
139,798.5
145,430.7
Exploration expense
7,815.4
7,620.8
8,598.4
10,474.7
12,010.5
36,085.9
32,778.0
39,750.8
44,294.1
51,919.3
DD&A (b)
Other expenses (c)
Income taxes
6,007.9
5,127.8
1,987.8
5,439.3
34.5
147,192.4
94,077.1
126,172.4
163,317.2
168,603.8
51,630.1
$
95,562.2
28,306.2
$
65,770.9
39,630.5
52,519.5
57,465.9
86,541.9
$ 110,797.7
$ 111,137.8
Asia-Pacific proved oil reserves (million barrels) (a)

Beginning of year
2008
2009
2010
2011
2012
56,425.2
58,647.8
59,107.6
57,013.0
58,562.3
2,761.3
2,912.5
2,437.8
3,114.7
2,768.6
296.0
423.2
666.8
313.4
318.2
Additions:
Improved recovery
Revisions
Production
Purchases
Sales
Other (b)
End of year
(141.4)
(3,672.4)
57.0
(248.9)
268.4
(4,099.2)
180.7
(46.3)
3,171.0
820.5
58,647.8
59,107.6
52
620.6
(4,203.0)
109.5
2,647.0
2,433.0
(4,076.4)
(4,130.3)
61.0
(1,471.0)
(72.0)
(255.3)
(438.4)
57,013.0
58,562.3
26.4
(934.1)
2.0
59,046.2
Asia-Pacific proved gas reserves (Bcf)

Beginning of year
2008
2009
2010
2011
2012
177,279.0
193,312.8
210,476.2
212,301.5
202,004.5
11,084.3
20,215.1
10,855.1
18,436.5
30,003.1
111.9
344.4
261.5
77.8
273.2
Additions:
Improved recovery
Revisions
10,155.3
(7,207.8)
(2,474.9)
(840.8)
Production
(8,398.3)
(9,042.9)
(10,381.7)
(10,938.9)
Purchases
599.0
Sales
13,518.5
(338.4)
Other (a)
2,820.0
End of year
193,312.8
123.4
1,602.2
(11,236.8)
280.0
3.6
(223.0)
(3,511.0)
(3,890.0)
(1,018.1)
(440.9)
6,952.9
(13,421.7)
(2.0)
210,476.2
212,301.5
202,004.5
221,629.7
Asia-Pacific proved reserve acquisition costs (PRAC), finding and development costs (FDC) and reserve
replacement costs (RRC) (a) ($ per boe)
2008
PRAC
9.29
2009
2010
2011
2012
3-year
1.04
$ 18.96
$ 21.25
$ 12.99
$ 19.28
5-year
$
3.18
FDC
13.14
12.51
16.10
11.05
11.84
12.43
12.57
RRC
13.05
9.13
16.17
11.18
11.84
12.51
11.90
Asia-Pacific oil production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
74%
91%
56%
149%
112%
105%
97%
Excluding purchases
and sales
79
88
89
149
134
123
108
2011
2012
3-year
5-year
Asia-Pacific gas production replacement rates

2008
2009
2010
All sources
257%
295%
51%
129%
275%
154%
197%
Excluding purchases
and sales
254
148
83
162
284
179
186
Asia-Pacific production costs ($ per boe)

2008
2009
2010
2011
2012
3-year
5-year
$ 22.16
$ 13.20
$ 17.00
$ 24.08
$ 24.56
$ 21.89
$ 20.21
53
Asia-Pacific capital expenditures for the latest fiscal year
Millions
Proved
properties
acquired
Apache Corporation
BHP Billiton Group
32.0
Unproved
properties
acquired
$
BP p.l.c. (1)
5.0
4.0
149.0
Development
$
Other
915.0
Total capital
expenditures
$
1,096.0
251.0
1,663.0
1,250.0
3,372.0
4,573.0
370.0
992.0
9,012.0
10,413.0
(53.0)
39.0
Exploration
1,919.0
China Petroleum & Chemical Corporation (Sinopec)
3,587.7
11,279.4
14,867.2
CNOOC Limited
0.3
1,823.0
5,670.0
7,493.2
ConocoPhillips
(1)
Eni SpA
INPEX CORPORATION
(7)
Mitsui & Co., Ltd.
249.0
1,126.0
1,375.0
375.5
1,903.3
2,278.8
43.0
31.0
802.0
5,680.0
6,556.0
7.6
213.0
1,918.8
2,139.4
15.6
173.0
522.3
710.9
1,502.5
68.8
1,385.1
48.6
64.0
194.0
258.0
OAO LUKOIL
937.0
525.0
6,489.0
7,951.0
OAO NOVATEK
65.3
965.5
1,030.8
193.2
740.5
8,885.8
9,819.5
3,896.6
6,486.7
27,559.7
198.0
101.6
55.3
9.0
363.9
1,917.0
1,219.0
7,674.0
10,810.0
19.0
91.0
149.0
367.0
81.0
707.0
Total S.A.
15.4
33.4
437.2
4,283.7
4,769.8
Repsol S.A.
37,943.0
All companies
350.5
7,546.4
$ 19,676.0
$ 100,874.5
129.6
$ 128,577.0
Integrateds
299.5
7,442.5
$ 16,709.2
$ 112,086.8
87,635.7
Large independents
32.0
12.9
2,685.0
11,292.7
14,022.6
Independents
19.0
91.0
281.8
1,946.1
129.6
2,467.5
(1)(8)
54
Asia-Pacific revenues and results of operations for the latest fiscal year (a)
Millions
Revenues
Apache Corporation
BHP Billiton Group
1,575.0
Production
costs (b)
$
226.0
Exploration
expense
$
DD&A (c)
$
460.0
Other
(income)
expense (d)
$
17.0
262.0
610.0
6,233.0
1,667.0
156.0
707.0
1,332.0
2,371.0
BP p.l.c. (1) (6)
25,419.0
13,704.0
351.0
3,113.0
(40.0)
1,941.0
6,350.0
30,037.0
6,192.0
622.0
4,274.0
(2,644.0)
8,937.0
12,656.0

36,059.8
13,828.4
2,461.8
6,385.4
3,637.8
9,746.3
CNOOC Limited
27,673.3
9,419.4
1,078.0
4,157.4
204.8
3,333.0
9,480.7
148.0
1,287.0
3,234.0
(16.7)
1,383.7
1,796.6
3,601.0
ConocoPhillips
(1)
Eni SpA
Mitsui & Co., Ltd.
Results of
operations
Income taxes
7,248.0
1,601.0
75.0
903.0
5,654.6
738.2
457.8
1,295.0
17,984.0
4,788.0
649.0
2,049.0
6,897.0
2,279.4
318.7
151.5
567.1
639.4
602.8
2,428.1
417.4
27.2
532.1
12.5
544.7
894.2
1,091.0
385.0
266.0
162.0
278.0
40,176.0
27,809.0
205.0
2,544.0
1,618.0
8,000.0
5,944.1
2,641.1
65.1
340.9
579.4
2,317.7
39,084.7
20,572.6
740.5
6,181.4
128.8
2,736.6
8,724.8
97,841.9
37,404.1
3,799.3
14,975.6
671.5
8,180.1
32,811.2
50.2
30.9
55.3
14.1
OAO LUKOIL
OAO NOVATEK
Repsol S.A.
(15.4)
(34.7)
23,501.0
2,709.0
636.0
1,526.0
1,388.0
11,846.0
2,190.0
471.0
170.0
422.0
539.0
588.0
Total S.A. (5)
5,528.5
508.0
309.9
1,206.3
164.6
1,625.5
1,714.2
All companies
$ 377,998.7
$ 145,430.7
$ 12,010.5
$ 51,919.3
34.5
$ 57,465.9
$ 111,137.8
Integrateds
$ 329,560.3
$ 131,243.9
$ 10,504.3
$ 44,471.8
$ 50,006.2
$ 93,681.9
42,729.3
12,913.4
1,309.0
6,227.4
369.8
6,214.0
15,695.7
5,709.1
1,273.4
197.2
1,220.1
12.5
1,245.7
1,760.2
Large independents
Independents
(347.8)
5,396.0
55
Asia-Pacific oil reserves for the latest fiscal year (a)
Million barrels
Beginning
Apache Corporation
BHP Billiton Group
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
Other (b)
Ending
Ending
rank
67.9
6.3
(0.1)
(10.6)
0.3
63.9
17
274.2
8.8
9.0
(39.1)
252.9
15
4,771.0
67.0
49.0
460.0
(376.0)
(15.0)
4,956.0
Chevron Corporation(1)
2,793.0
9.0
6.0
160.0
(243.0)
(22.0)
2,703.0

2,848.0
151.0
163.0
9.0
(328.0)
2,843.0
CNOOC Limited
1,748.0
BP
p.l.c.(1)
1,685.0
207.0
88.0
(232.0)
ConocoPhillips(1)
300.0
32.0
11.0
(36.0)
(40.0)
267.0
14
Eni SpA
784.0
59.0
(44.0)
(23.0)
776.0
10
1,891.0
9.0
1.0
(5.0)
(129.0)
1,767.0
INPEX CORPORATION(7)
310.0
190.0
(9.0)
(33.0)
2.0
460.0
13
16.0
(15.0)
43.0
18
(0.4)
(19.3)
95.7
16
34.0
20
Mitsui & Co., Ltd.

Newfield Exploration
Company
OAO LUKOIL
42.0
104.4
3.8
7.2
43.0
2.0
(11.0)
12,786.0
511.0
67.0
(631.0)
OAO NOVATEK(8)
485.0
91.0
2.0
(35.0)
OJSC Rosneft Oil

Company(2)
16,352.0
736.0
1,375.0
(885.0)
1.0
PetroChina Company
Limited
11,128.0
737.0
86.0
(917.0)
Repsol S.A.
(16.0)
(3.0)
12,730.0
543.0
12
16,773.0
11,018.0
21
(806.0)
(1.0)
24.0
23.0
1,279.0
2.0
6.0
196.0
(122.0)
(24.0)
1,337.0
45.8
1.7
(9.3)
1.1
(1.1)
37.7
19
11
Total S.A.
(0.5)
573.0
6.0
10.0
(14.0)
All companies
58,562.3
2,768.6
318.2
2,433.0
(4,130.3)
26.4
(934.1)
Integrateds
55,732.0
2,319.0
311.0
2,333.0
(3,740.0)
25.0
2,637.1
444.1
98.9
(350.7)
0.3
193.2
5.5
7.2
1.1
(39.6)
1.1
Large independents
Independents
56
575.0
2.0
59,046.2
(893.0)
56,087.0
(40.0)
2.0
2,791.8
(1.1)
167.4
Asia-Pacific gas reserves for the latest fiscal year
Bcf
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
Other (a)
Ending
rank
Ending
Apache Corporation
1,569.6
177.0
0.1
(78.3)
1.7
1,670.1
15
BHP Billiton Group
4,038.1
6.6
90.1
(276.1)
3,858.7
12
10,111.0
1,310.0
156.0
566.0
(822.0)
(1.0)
11,320.0
18,716.0
797.0
1.0
1,523.0
(1,087.0)
(532.0)
19,418.0

6,709.0
232.0
109.0
278.0
(598.0)
6,730.0
CNOOC Limited
5,456.0
911.0
(360.0)
(338.0)
5,669.0
10
BP p.l.c.
(1)
ConocoPhillips
(1)
Eni SpA
2,519.0
14.0
113.0
(264.0)
(34.0)
2,348.0
14
2,937.0
471.0
164.0
(261.0)
(139.0)
3,172.0
13
13,718.0
59.0
359.0
(723.0)
13,413.0
1,819.0
5,364.0
268.0
(290.0)
Mitsui & Co., Ltd.
483.0
145.0
(97.0)
347.8
40.5
7.2
41.4
(79.3)
4.0
(2.0)
(2.0)
INPEX CORPORATION
Company
(7)
(2.0)
7,159.0
531.0
17
357.6
18
OAO LUKOIL
16,851.0
595.0
602.0
(571.0)
17,477.0
OAO NOVATEK (8)
26,547.0
13,455.0
231.0
(1,781.0)
38,452.0
OJSC Rosneft Oil

Company(2)
66,653.0
6,218.0
67,581.0
155.0
155.0
19
PetroChina Company
Limited
Repsol S.A.
(2,731.0)
(2,559.0)
16,643.0
296.0
(845.0)
(303.0)
15,791.0
1,296.0
3.0
3.6
(132.1)
1.9
(9.1)
1,163.3
16
5,364.0
11
Total S.A.
5,587.0
195.0
15.0
(433.0)
All companies
202,004.5
30,003.1
273.2
1,602.2
(11,236.8)
3.6
(1,018.1)
Integrateds
184,955.0
23,487.0
266.0
1,448.0
(9,777.0)
(975.0)
15,401.7
6,472.6
111.2
(1,246.4)
1.7
(34.0)
1,647.8
43.5
7.2
43.0
(213.4)
1.9
(9.1)
Large independents
Independents
(2.0)
(2.0)
221,629.7
199,404.0
20,704.8
1,520.9

57
Asia-Pacific performance measures (three-year averages) (a)

Oil
PRAC
Apache Corporation
BHP Billiton Group
56.45
FDC
$
22.72
RRC
$
25.74
All
sources
Gas
Excluding
purchases
and sales
All
sources
Excluding
purchases
and sales
Production
costs
22.89
65%
64%
241%
240%
25.74
37
37
109
109
17.39
8.08
BP p.l.c.(1)
29.62
6.34
7.22
169
170
140
140
24.53
Chevron Corporation(1)
14.08
18.72
18.68
32
34
181
201
12.34
30.57
30.57
92
92
99
99
29.29
9.14
19.86
19.25
125
116
78
83
27.11
33
21.66
73
7.58
15.59

CNOOC Limited
ConocoPhillips(1)
48.82
51.00
(560)
Eni SpA
142.08
142.08
(55)
63.50
94.28
93.62
41
40
INPEX CORPORATION(7)
6.15
6.12
210
209
545
Mitsui & Co., Ltd.
34.53
34.53
61
61
62
44.58
44.58
77
77
29.35
30.08
108
108
OAO LUKOIL
18
(38)
(254)
56
548%
62
9.01
35
35
11.83
100
100
36.86
34.60
5.72
8.07
8.07
83
83
192
192
OAO NOVATEK
0.82
0.89
191
264
332
420
7.44
OJSC Rosneft Oil Company(2)
4.14
4.14
209
240
19.90
19.75
19.75
91
91
160
160
24.99
8.25
11.32
9.84
2,400
30.86

Repsol S.A.
0.14
57.18
52.36
108
106
(17)
14.87
2,495.61
205.99
85
79
(20)
(29)
Total S.A.(5)
36.83
22.38
22.64
107
123
241
236
9.89
13.67
4.84
All companies
19.28
12.43
12.51
105%
123%
154%
179%
21.89
Integrated
21.97
11.92
21.84
12.00
119%
127%
160%
179%
Large independents
11.79
15.33
15.24
(23)
93
135
203
Independents
16.77
63.26
58.52
85
84
(1)(8)
58
(5)
23.24
15.43
Canada
59
Canada
Canada capital expenditures (millions)
2008
2009
6,704.4
1,019.0
2010
$
2011
4,216.1
2,151.0
2012
$
1,701.1
6,741.4
1,140.6
4,333.2
2,839.6
1,510.7
Exploration
3,922.4
2,783.6
3,382.2
4,083.9
4,030.7
16,737.8
18,198.5
22,934.5
26,740.6
33,160.4
Development
Other
Total
130.4
51.0
96.1
201.6
199.2
$ 34,236.3
$ 23,192.7
$ 34,962.2
$ 36,016.7
$ 40,602.1
Canada revenues and results of operations (millions)

2008
Revenues
2009
2010
2011
2012
$ 57,702.7
$ 40,392.4
$ 47,581.3
$ 51,966.2
$ 49,002.2
12,726.4
14,636.8
17,070.6
19,150.1
20,727.3
Exploration expense
1,222.1
1,111.4
1,064.1
1,179.3
1,868.6
34,422.3
15,995.5
14,207.1
17,290.3
22,866.9
2,763.4
2,924.1
11,583.1
615.3
DD&A (b)
Other expenses (c)
Income taxes
954.2
1,621.1
8,377.6
7,027.6
4,007.2
$
4,370.5
(965.4)
16,204.9
1,735.9
3,486.9
5,291.7
$ 12,718.1
2,696.9
$
8,886.3
48.6
$
566.7
Canada proved oil reserves (a) (million barrels)

2008
Beginning of year
2009
2010
2011
2012
5,618.2
5,312.9
12,392.9
12,695.5
14,296.5
322.2
1,199.4
605.2
1,827.2
996.5
Additions:
Improved recovery
29.0
Revisions (b)
(308.5)
Production
(434.0)
Purchases
101.1
Sales
(15.0)
Other (c)
End of year
5,312.9
98.0
42.0
65.0
75.2
7,273.4
305.6
187.8
950.9
(498.2)
(488.3)
(495.8)
(549.3)
100.4
163.4
88.0
38.9
(325.4)
(25.8)
(68.7)
(1,018.0)
(75.0)
12,392.9
12,695.5
(45.3)
14,296.5
1.0
15,741.1
(b) Revisions for 2009 include 6,479.6 million barrels related to the addition of synthetic crude due to the SEC Rule. These reserves are not
included in the performance measure calculations.
(c) Includes transfers, reclassifications and other.
60
Canada proved gas reserves (Bcf)

Beginning of year
2008
2009
2010
2011
2012
28,597.6
29,258.1
25,031.2
25,576.7
26,008.9
2,726.2
2,917.8
2,992.9
3,390.7
1,477.4
100.0
19.0
30.0
90.0
21.2
Additions:
Improved recovery
Revisions
390.8
(1,786.6)
Production
(3,296.4)
Purchases
1,061.2
Sales
(2,050.3)
0.0
End of year
(2,757.9)
1,832.8
893.7
235.6
(883.0)
(872.5)
25,031.2
(5,869.7)
(2,887.3)
(2,298.1)
(119.2)
29,258.1
95.1
(2,909.9)
88.3
(321.2)
Other (a)
897.8
(3,296.0)
(267.0)
25,576.7
26,008.9
18,243.1
Canada proved reserve acquisition costs (PRAC), finding and development costs (FDC) and reserve
replacement costs (RRC) ($ per boe)
2008
PRAC
$ 24.12
2009
2010
8.85
$ 8.99
2011
2012
3-year
5-year
9.08
$ 21.76
$ 10.29
$ 13.42
FDC
47.57
9.71
19.14
12.66
30.06
18.56
18.16
RRC
39.96
9.67
16.85
12.36
29.59
17.54
17.58
Canada oil production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
30%
236%
162%
432%
363%
321%
253%
Excluding purchases
and sales
10
420
195
420
368
330
292
Canada gas production replacement rates

All sources
Excluding purchases
and sales
2008
2009
2010
2011
2012
3-year
5-year
120%
(25)%
119%
124%
(182)%
24%
34%
35
135
124
(158)
37
49
2008
2009
2010
2011
2012
3-year
5-year
$ 12.94
$ 13.97
$ 17.54
$ 19.60
$ 20.54
$ 19.24
$ 16.90
98
Canada production costs ($ per boe)
61
Canada capital expenditures for the latest fiscal year
Millions
Proved
properties
acquired
Apache Corporation
BP p.l.c.
(1)

Chevron Corporation
ConocoPhillips
5.0
Unproved
properties
acquired
$
Exploration
$
111.0
Development
$
Other
762.0
Total capital
expenditures
$
878.0
222.0
590.0
812.0
144.1
44.0
251.1
5,775.3
6,214.5
3.0
26.0
295.0
3,394.0
3,718.0
71.0
43.0
304.0
1,691.0
2,109.0
Encana Corporation
18.0
121.0
201.0
1,366.0
1,706.0
EOG Resources, Inc.
33.6
38.5
246.0
33.0
351.1
2.0
74.0
405.0
7,601.0
8,082.0
Husky Energy Inc.
6.0
15.0
338.1
4,076.6
4,435.8
31.0
195.0
226.0
242.4
14.6
56.9
583.8
80.8
978.5
153.1
1,229.5
1,382.6
1,156.7
705.3
72.1
556.6
4.4
2,495.2
52.0
37.0
241.0
1,595.0
1,925.0
5.6
8.3
178.8
192.7
(1)

Nexen Inc.
1.0
381.0
1,109.0
2,113.0
3,604.0
Sasol Limited
882.7
882.7
3.6
2.5
6.1
All companies
Integrateds
Large independents
Independents
(1)(8)
62
7.0
1,701.1
3.0
191.0
1,510.7
455.0
324.0
4,030.7
1,736.0
81.0
603.0
33,160.4
199.2
40,602.1
13,380.7
11,186.7
241.1
267.6
1,231.6
13,429.3
33.0
15,202.6
1,457.1
788.2
1,063.0
8,544.4
166.2
12,018.9
Canada revenues and results of operations for the latest fiscal year (a)
Millions
Revenues
Apache Corporation
BP p.l.c.
(1) (6)

Chevron Corporation
ConocoPhillips
1,322.0
Production
costs (b)
$
Exploration
expense
663.0
DD&A (c)
$
2,463.0
Other
(income)
expense (d)
$
41.0
Results of
operations
Income taxes
$
(466.0)
$ (1,379.0)
20.0
71.0
4.0
10.0
115.0
(67.0)
10,613.2
4,149.7
3,861.5
117.0
623.2
1,861.7
(113.0)
3,411.0
1,445.0
669.0
1,822.0
153.0
2,474.0
1,207.0
1,126.0
69.0
Encana Corporation
2,760.0
952.0
2,570.0
(191.0)
EOG Resources, Inc.
322.0
162.0
14.9
1,198.9
(136.1)
7,261.0
3,168.0
292.0
848.0
720.0
2,233.0
(1)
(210.0)
(468.0)
3.0
69.0
(571.0)
(917.8)
Husky Energy Inc.
5,369.1
1,798.7
305.1
2,093.8
339.1
832.3
1,261.0
932.0
31.0
217.0
20.0
61.0
1,084.3
411.9
10.5
375.1
13.6
65.1
208.1
Nexen Inc.
1,489.6
801.3
80.0
503.2
220.1
(91.9)
(23.2)
1,203.3
483.6
645.9
20.4
88.6
(35.1)
2,872.1
1,048.4
1,525.6
92.0
60.5
490.8
(114.8)
(344.5)
6,650.0
2,986.0
423.0
2,037.0
2,175.0
(428.0)
(543.0)
42.5
20.1
170.0
(53.2)
(94.5)

Sasol Limited
77.5
220.6
755.0
367.0
39.0
909.0
All companies
$ 49,002.2
$ 20,727.3
$ 1,868.6
$ 22,866.9
$ 2,924.1
$ 48.6
$ 566.7
Integrateds
$ 13,973.5
6,245.1
719.0
3,065.0
2,290.0
(130.0)
171.8
Large independents
22,163.2
9,510.7
714.9
13,258.5
380.0
(356.9)
Independents
12,865.5
4,971.4
434.7
6,543.5
254.1
233.6
(430.0)
1,482.5
(1,344.1)
428.3
63
Canada oil reserves for the latest fiscal year (a)
Million barrels
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Apache Corporation
173.0
26.6
(7.1)
BP p.l.c. (1)
178.0
17.0
3,071.0
95.0
34.0
272.0
523.0
6.0
1,520.0
313.0
190.0
(47.0)
564.0
76.0
9.0
(36.0)
Encana Corporation
95.0
25.9
(10.0)
(7.1)
EOG Resources, Inc.
19.8
5.9
(1.9)
(2.9)
Canadian Natural
ResourcesLimited
Chevron Corporation
ConocoPhillips (1)
(8.1)
Purchases
Sales
Other (b)
Ending
Ending
rank
0.2
184.6
12
195.0
11
(131.0)
2.0
3,343.0
(16.0)
513.0
1,976.0
613.0
(2.2)
101.6
15
(1.4)
19.4
17
3,877.0
372.0
269.0
(88.0)
(1.0)
4,429.0
Husky Energy Inc.
651.0
35.0
16.0
25.0
(66.0)
(1.0)
660.0
623.0
45.0
(15.0)
653.0
166.1
2.9
(8.7)
(10.4)
6.0
155.9
13
Nexen Inc.
577.0
14.0
2.0
(12.0)
581.0
Pengrowth Energy
Corporation
105.6
13.0
2.6
(13.1)
30.7
(0.3)
138.5
14
321.0
5.0
25.0
1.0
(31.0)
(49.0)
1.0
273.0
10

0.0
0.0
(0.0)
1,770.0
2.0
135.0
(60.0)
(2.0)
0.0
19
1,845.0
Sasol Limited
0.2
0.2
18
Southwestern Energy
Company
16
62.0
10.3
5.1
(5.7)
(11.8)
59.9
14,296.5
996.5
75.2
950.9
(549.3)
38.9
(68.7)
1.0
15,741.1
6,348.0
374.0
0.2
427.0
(164.0)
(3.0)
6,982.2
Large independents
6,065.8
542.3
34.0
496.9
(247.1)
2.2
(3.6)
6,890.6
Independents
1,882.7
80.2
41.0
27.0
(138.2)
36.7
(62.1)
1.0
1,868.3
All companies
Integrateds
(a) Includes condensate, natural gas liquids and synthetic crude.

64
Canada gas reserves for the latest fiscal year
Bcf
Beginning
Apache Corporation
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
Ending
2,137.9
4.0
17
2,647.0
3,547.5
252.1
(1,444.0)
(219.8)
2.5
28.0
(19.0)
(5.0)
3,499.0
50.0
11.0
(517.0)
(429.0)
34.0
2,113.0
75.0
(111.0)
(313.0)
2.0
(2.0)
1,764.0
979.0
34.0
(132.0)
(186.0)
(11.0)
684.0
Encana Corporation
6,329.0
638.0
(1,497.0)
(497.0)
38.0
(461.0)
4,550.0
EOG Resources, Inc.
1,035.9
(894.5)
(34.6)
(8.5)
98.3
14
835.0
95.0
168.0
(153.0)
(20.0)
925.0
1,824.0
140.0
(357.0)
(190.0)
1,417.0
638.9
25.8
(37.2)
(79.5)
2.4
550.4
10
Nexen Inc.
325.0
(139.0)
(43.0)
(69.0)
74.0
15
Pengrowth Energy
Corporation
501.4
3.1
(69.8)
(78.8)
156.7
(2.4)
510.2
12
630.0
15.0
11.0
(20.0)
(101.0)
(9.0)
526.0
11
266.8
13
1,011.0
55.2
16
BP p.l.c. (1)
Canadian Natural
ResourcesLimited
Chevron Corporation
ConocoPhillips
(1)

Husky Energy Inc.

Sasol Limited
Southwestern Energy
Company
All companies
Integrateds
Large independents
Independents
(0.4)
Ending
rank
Other (a)
(1.0)
330.6
0.0
(33.9)
(29.9)
2,045.0
84.0
(683.0)
(244.0)
54.9
(17.0)
(0.8)
18.1
(191.0)
1,292.7
65.4
(101.4)
(137.2)
(97.2)
1,022.3
26,008.9
1,477.4
21.2
(5,869.7)
(2,757.9)
235.6
(872.5)
18,243.1
2,962.9
179.0
(515.9)
(419.0)
(211.0)
1,995.2
17,503.4
1,049.1
11.0
(0.8)
(4,595.5)
(1,679.4)
76.5
(483.9)
11,881.2
5,542.6
249.3
11.0
(758.3)
(659.4)
159.1
(177.6)
4,366.7

65
Canada performance measures (three-year averages) (a)

Oil
PRAC
Apache Corporation
BP p.l.c. (1)
Canadian Natural Resources
Limited
Chevron Corporation
12.38
FDC
All
sources
RRC
$ (46.58)
41.92
273%
Gas
Excluding
purchases
and sales
82%
6.75
14.44
14.39
9,250
9,800
12.37
16.35
15.53
297
263
All
sources
72%
(1,239)
70
Excluding
purchases
and sales
(93)%
Production
costs
$
14.72
(34)
22.97
11
19.25
233
133
8.00
8.60
8.60
515
717
47
56
14.17
18.41
35.58
35.08
167
167
(0)
16.15
Encana Corporation
9.51
22.73
21.19
484
532
EOG Resources, Inc.
(7.30)
(7.30)
31
ConocoPhillips (1)

Husky Energy Inc.
Nexen Inc.
Sasol Limited
10.28
10.28
667
671
21
87
23.87
38.53
29.19
153
134
84
(3)
16.98
16.59
16.65
232
232
62.13
25.42
20.59
20.97
96
77
337
322
18.09
80.46
80.46
22
100
(33)
27
40.22
19.39
46.69
32.66
219
130
144
49
18.00
(53.47)
30.84
21.61
79
140
50
58
20.91
32.52
26.23
57
57
117
90
11.77
23.90
23.90
195
196
77
107
29.90
12.87
482.15
126.65
377
87
7.05
28.67
28.75
(59)
88
All companies
10.29
Integrated
Independents
9.89
15.16
Large independents
79
(624)
9.64
5.25
47
(832)
(113)
12.18
18.56
17.54
321%
330%
24%
37%
19.24
2.69
$13.24
13.03
507%
504%
(26)%
89%
24.77
12.22
18.96
17.70
315
331
24
16.82
7.62
35.24
29.05
116
126
57
76
18.98
66
103
Europe
Europe
Europe capital expenditures (millions)
2008

Exploration
Development
Other
Total
389.9
2009
$
288.4
2010
$
1,206.6
2011
$
3,341.8
2012
$
854.8
345.0
43.4
1,827.2
538.5
197.4
4,943.6
4,291.5
4,161.9
4,698.5
4,491.2
23,637.4
22,159.8
20,463.6
29,219.6
37,531.1
85.7
229.3
148.7
255.9
400.0
$ 29,401.6
$ 27,012.4
$ 27,807.9
$ 38,054.3
$ 43,474.5
Europe revenues and results of operations (millions)

2008
Revenues
2009
2010
2011
2012
$ 153,877.1
$ 103,688.6
$ 119,336.4
$ 150,877.7
$ 141,502.7
22,041.5
24,123.9
25,453.4
29,594.5
31,029.0
Exploration expense
3,464.5
2,657.0
3,000.0
3,653.0
3,288.0
23,547.4
20,876.3
21,535.2
20,462.5
23,487.0
DD&A (b)
Other expenses (c)
Income taxes
1,379.4
525.2
1,591.9
1,577.9
1,771.5
103,444.3
55,506.2
67,755.9
95,589.7
81,927.1
66,548.5
$
36,895.7
34,140.8
$
21,365.4
40,216.6
$
27,539.3
62,640.3
$
32,949.5
53,263.6
$
28,663.5
Europe proved oil reserves (a) (million barrels)

Beginning of year
2008
2009
2010
2011
2012
7,685.0
6,653.7
6,763.0
7,130.9
7,796.1
119.5
381.7
362.5
331.4
194.5
73.0
57.0
109.0
78.5
13.0
(33.1)
790.3
647.9
837.4
219.4
(953.9)
(837.6)
Additions:
Improved recovery
Revisions
Production
Purchases
Sales
Other (b)
End of year
(1,160.8)
(1,090.6)
2.0
9.0
(69.7)
(15.2)
37.9
6,653.7
(22.9)
6,763.0
68
(1,045.5)
197.0
105.6
(73.0)
(68.0)
89.4
(263.2)
170.0
334.1
0.1
7,130.9
7,796.1
7,211.7
Europe proved gas reserves (Bcf)

Beginning of year
2008
2009
2010
2011
2012
49,245.3
68,381.8
65,250.6
63,029.3
63,287.4
646.8
442.9
1,034.0
629.8
972.7
85.0
59.0
158.0
112.0
97.0
Additions:
Improved recovery
Revisions
684.8
Production
(5,190.1)
Purchases
Sales
2,635.0
2,367.2
3,140.4
1,444.7
(6,128.2)
(6,293.4)
(5,736.3)
(5,706.4)
84.0
217.0
291.0
348.7
(72.0)
(357.0)
(121.0)
(294.0)
Other (a)
22,898.1
0.1
343.0
2,057.5
End of year
68,381.8
65,250.6
63,029.3
63,287.4
190.5
(2,029.3)
(0.1)
58,256.4
Europe proved reserve acquisition costs (PRAC), finding and development costs (FDC) and reserve
replacement costs (RRC) ($ per boe)
2008
PRAC
$ 24.37
2009
$
6.39
2010
2011
4.91
$ 20.41
2012
3-year
5-year
7.06
$ 10.19
$ 10.28
FDC
73.36
15.26
15.53
18.32
50.38
23.34
24.19
RRC
71.46
15.03
14.20
18.49
44.95
21.94
23.05
Europe oil production replacement rates

All sources
Excluding purchases
and sales
2008
2009
2010
2011
2012
3-year
5-year
8%
112%
119%
135%
30%
98%
80%
113
107
131
51
98
82
14
Europe gas production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
28%
49%
59%
69%
12%
47%
44%
Excluding purchases
and sales
27
51
57
68
44
56
50
2008
2009
2010
2011
2012
3-year
5-year
$ 10.88
$ 11.42
$ 12.15
$ 15.49
$ 17.35
$ 14.86
$ 13.32
Europe production costs ($ per boe)
69
Europe capital expenditures for the latest fiscal year
Millions
Proved
properties
acquired
Apache Corporation
110.0
Unproved
properties
acquired
$
26.0
Exploration
$
111.0
Development
$
Other
837.0
Total capital
expenditures
$
1,084.0
BG Group plc
156.0
941.0
1,097.0
BP p.l.c.
220.0
2,691.0
2,911.0
556.2
556.2
Chevron Corporation
253.0
753.0
1,006.0
ConocoPhillips
2.0
102.0
3,515.0
3,619.0
Eni SpA
(1)

Hess Corporation
252.1
4,564.0
4,816.1
95.0
24.0
488.0
2,793.0
3,400.0
0.7
0.2
0.9
78.0
89.0
1,792.0
1,959.0
3.0
54.0
468.0
525.0
Nexen Inc.
202.1
1,003.4
207.7
1,088.8
Repsol S.A.
(1.0)
58.1
(11.5)
(49.5)
45.6
1,205.5
1,247.0
102.9
123.5
226.3
387.0
16.0
459.0
3,289.0
4,151.0
Statoil ASA
893.7
7,854.6
8,748.3
132.0
1,110.0
461.0
1,703.0
259.8
51.4
769.0
4,093.4
5,173.6
Total S.A. (5)

All companies
854.8
197.4
4,491.2
$ 37,531.1
400.0
$ 43,474.5
Integrateds
741.8
169.4
(49.5)
$ 33,638.3
Large independents
Independents
(1)(8)
70
3,734.4
$ 29,042.2
113.0
28.0
423.0
6,317.2
333.8
2,171.7
449.5
6,881.2
2,955.0
Europe revenues and results of operations for the latest fiscal year (a)
Millions
Revenues
Apache Corporation
2,751.0
Production
costs (b)
$
790.0
Exploration
expense
$
DD&A (c)
$
912.0
BG Group plc
2,951.0
516.0
86.0
340.0
BP p.l.c. (6)
5,429.0
1,750.0
134.0
1,391.0
837.3
426.2
296.1
Other
(income)
expense (d)
$
58.0
90.0
Results of
operations
Income taxes
$
614.0
377.0
1,234.0
685.0
808.0
2,430.0
27.0
55.0
33.0
(1,084.0)
Chevron Corporation
3,766.0
640.0
272.0
556.0
33.0
1,511.0
754.0
ConocoPhillips
8,198.0
1,235.0
104.0
1,169.0
172.0
3,980.0
1,538.0
Eni SpA (1)
9,845.7
1,626.8
245.6
1,944.4
423.1
3,140.4
2,465.3
18,648.0
6,894.0
291.0
1,711.0
6,307.0
3,445.0
34.8
0.1
Hess Corporation
2,460.0
1,059.0
71.0
585.0
334.0
411.0
4,449.0
393.0
42.0
614.0
2,537.0
863.0

Nexen Inc.
3,890.6
439.2
117.0
752.3
18.0
2,047.8
516.2
4,460.6
1,420.6
138.6
764.0
50.2
413.9
1,673.3
104.2
25.7
108.0
47.6
5.1
21,428.0
6,851.0
364.0
1,740.0
941.0
7,296.0
4,236.0
Statoil ASA
37,932.2
3,815.6
601.6
5,121.8
618.7
19,885.6
7,888.9
2,980.0
1,452.0
92.0
2,954.0
Repsol S.A.

Total S.A.
(34.9)
(48.9)
(1,324.0)
(33.4)
(194.0)
11,372.2
1,695.0
621.1
2,554.0
419.2
4,472.7
1,610.1
All companies
$ 141,502.7
$ 31,029.0
3,288.0
$ 23,487.0
1,771.5
$ 53,263.6
$ 28,663.5
Integrateds
$ 115,445.8
$ 25,777.7
2,847.0
$ 16,414.8
1,406.5
$ 44,119.8
$ 24,880.1
19,186.3
3,360.2
232.0
3,331.1
347.0
8,420.0
3,496.0
6,870.6
1,891.2
209.0
3,741.1
18.1
723.8
287.3
(5)
Large independents
Independents
71
Europe oil reserves for the latest fiscal year (a)
Million barrels
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
Other (b)
Ending
Ending
rank
Apache Corporation
178.7
0.6
(7.3)
(23.9)
2.4
150.5
14
BG Group plc
164.6
1.4
7.5
(20.8)
152.7
13
1,032.0
1.0
3.0
(55.0)
(39.0)
4.0
244.0
(2.0)
(7.0)
BP p.l.c.
Canadian Natural
ResourcesLimited
Chevron Corporation
159.0
9.0
16.0
(27.0)
ConocoPhillips
555.0
3.0
26.0
(51.0)
Eni SpA
631.0
3.0
1.0
1.0
(58.0)
346.0
8.0
15.0
(64.0)
20.0
494.0
18.0
(16.0)
(31.0)
97.0
28.0
(36.0)
(1)

Hess Corporation
(24.0)
(16.0)
(8.0)
(49.0)
922.0
235.0
10
157.0
12
517.0
578.0
317.0
416.0
89.0
16
21.6
0.3
(1.3)
20.6
17
Nexen Inc.
193.0
4.0
18.0
(34.0)
181.0
11
441.5
1.3
22.6
(34.5)
0.1
431.0
Repsol S.A.
Statoil ASA
Total S.A.
6.0
(1.0)
5.0
18
754.0
44.0
19.0
(80.0)
56.0
793.0
1,369.0
100.0
150.0
(231.0)
(17.0)
1,371.0
(16.8)
(23.7)
(26.1)
(117.2)
113.9
15
4
297.7
812.0
27.0
20.0
(72.0)
7.0
(32.0)
762.0
All companies
7,796.1
194.5
13.0
219.4
(837.6)
89.4
(263.2)
0.1
7,211.7
Integrateds
6,044.5
202.3
13.0
172.6
(637.5)
87.0
(130.0)
0.1
5,752.0
Large independents
1,239.3
5.0
52.2
(138.7)
2.4
(16.0)
1,144.2
(5.4)
(61.4)
(117.2)
315.5
Independents
512.3
(12.8)

72
Europe gas reserves for the latest fiscal year
Bcf
Beginning
Extensions
and
discoveries
Improved
recovery
Apache Corporation
108.4
16.4
BG Group plc
936.0
(1.0)
BP p.l.c.
Canadian Natural
ResourcesLimited
Chevron Corporation
ConocoPhillips
Revisions
Production
Purchases
Sales
Other (a)
Ending
Ending
rank
(21.0)
8.5
112.3
12
(22.0)
(87.0)
826.0
2,185.0
83.0
14
257.0
11
1,806.0
2,813.0
7.0
95.0
(31.0)
(169.0)
16.0
97.0
(13.0)
(1.0)
258.0
2.0
84.0
(87.0)
1,896.0
36.0
96.0
(208.0)
(546.0)
(14.0)
3,918.0
39.0
197.0
(422.0)
(782.0)
2,950.0
13,755.0
184.0
185.0
(1,206.0)
6.0
(140.0)
12,784.0
51.7
(51.7)
Hess Corporation
563.0
1.0
4.0
(19.0)
119.0
15.0
(31.0)
Eni SpA
(1)

21.0
(0.5)
Nexen Inc.
66.0
1.0
13.0
2,494.9
70.6
(9.0)
Repsol S.A.
(192.0)
357.0
10
103.0
13
(1.2)
19.3
17
(14.0)
66.0
16
(230.7)
2,325.7
(0.1)
2.0
(2.0)
15,401.0
71.0
(75.0)
(1,251.0)
22.0
14,168.0
Statoil ASA
15,689.0
279.0
824.0
(1,483.0)
(305.0)
15,004.0
86.3
52.7
(41.1)
(11.5)
(20.3)
66.1
15
5,014.0
216.0
268.0
(462.0)
138.0
(30.0)
5,144.0
All companies
63,287.4
972.7
97.0
1,444.7
(5,706.4)
190.5
(2,029.3)
(0.1)
58,256.4
Integrateds
59,905.9
867.6
97.0
1,449.0
(5,331.7)
182.0
(1,995.0)
(0.1)
55,174.7
3,156.4
51.4
76.0
(348.0)
8.5
(14.0)
2,930.3
225.0
53.7
(80.3)
(26.7)
(20.3)
151.4

Total S.A.
Large independents
Independents

73
Europe performance measures (three-year averages) (a)

Oil
PRAC
Apache Corporation
BG Group plc
38.58
FDC
RRC
$ (78,939.10) $
85.16
All
sources
67%
Gas
Excluding
purchases
and sales
(4)%
All
sources
573%
Excluding
purchases
and sales
75%
Production
costs
$
31.86
3.87
34.44
29.32
73
69
67
44
12.02
BP p.l.c.
35.36
29.27
75
89
(2)
95
19.04
Canadian Natural
ResourcesLimited
31.20
31.20
83
83
329
329
46.94
Chevron Corporation
20.63
20.63
87
87
72
72
11.60
ConocoPhillips
23.06
23.06
108
117
74
76
11.66
Eni SpA (1)
30.97
30.81
97
98
14
76
10.96
5.79
27.99
26.32
53
57
14
21
21.12
(0.57)
(0.57)
3.92
45.55
19.41
187
102
17
24.46
14.16
14.18
88
88
8.60
8.60
362
362
(107)
(107)
(1)
Hess Corporation
Nexen Inc.
(166)
94
94
8.81
14.74
51.12
20.74
21.09
112
111
229
221
10.16
33.68
33.68
47
47
61
61
19.66
Repsol S.A.
347.82
347.82
(5)
56
58
58
36.84
10.15
10.53
10.50
199
182
58
58
19.57
8.35
19.31
18.97
103
103
53
57
7.72
286.38
287.23
(103)
11
25
54
35.19
9.43
20.54
18.93
118
106
94
(1)
Statoil ASA
Total S.A. (5)
111
9.73
All companies
10.19
23.34
21.94
98%
98%
47%
56%
14.86
Integrated
6.11
21.39
19.77
108%
105%
44%
55%
14.48
Large independents
32.30
28.91
29.35
91
84
84
70
14.92
Independents
61.12
52.61
52.69
11
66
43
58
22.73
74
South and
Central America
75
South and Central America

South and Central America capital expenditures (millions)
2008

Exploration
Development
Other
Total
784.0
2009
$
1,391.7
2010
$
502.9
2011
$
2012
1,055.8
169.0
70.3
147.6
43,927.7
2,995.2
217.3
7,784.5
7,777.0
8,745.0
10,862.5
11,618.4
27,107.7
29,700.4
33,549.2
34,352.1
38,594.5
29.0
12.0
$ 35,775.6
$ 39,028.7
(3.0)
$ 86,721.7
15.0
$ 49,265.6
$ 50,614.1
South and Central America revenues and results of operations (millions)

2008
Revenues
2009
2010
2011
2012
$ 187,407.8
$ 121,443.1
$ 162,827.2
$ 217,039.9
$ 219,323.9
35,353.3
30,352.9
37,047.5
46,651.5
48,769.1
Exploration expense
3,136.2
4,389.2
4,504.7
5,474.6
7,167.5
16,002.5
14,125.2
17,916.2
17,450.0
21,750.1
DD&A (b)
Other expenses (c)
Income taxes
5,628.9
4,738.3
5,903.4
7,903.1
8,327.1
127,286.9
67,837.5
97,455.3
139,560.7
133,310.1
84,770.6
$
42,516.3
47,652.2
$
20,185.2
65,104.6
90,192.0
32,350.7
$ 49,368.7
87,135.8
$
46,174.3
South and Central America proved oil reserves (a) (million barrels)
2008
2009
2010
2011
2012 (b)
23,878.2
22,779.1
24,033.9
24,604.9
24,432.3
490.5
609.0
1,241.6
632.1
683.2
Improved recovery
103.2
69.7
142.1
53.7
403.5
643.9
2,695.7
1,110.7
1,627.3
1,224.5
(2,114.6)
(2,153.1)
(2,135.2)
(2,136.0)
Beginning of year
Additions:
Revisions
Production
Purchases
Sales (b)
Other (c)
End of year
(2,137.4)
12.5
103.7
(210.8)
(103.7)
(1.0)
22,779.1
(5.0)
24,033.9
240.3
(16.7)
6.1
24,604.9
40.4
(29.0)
(361.9)
24,432.3
(594.0)
585.0
24,598.5
(b) Sales for 2012 include 584.0 million barrels for the expropriation process of Repsols shares in YPF. This amount is not included in the all
sources production replacement rate calculation.
(c) Includes transfers, reclassifications and other. The 2012 figure includes 584.0 million barrels, which represents YPFs 2012 beginning-of-year
oilreserves.
76
South and Central America proved gas reserves (Bcf)

Beginning of year
2008
2009
2010
2011
2012 (a)
49,060.8
46,982.5
44,423.8
46,058.0
45,328.2
1,799.1
899.8
2,456.3
1,778.8
1,885.0
215.4
350.3
580.5
90.9
147.5
Additions:
Improved recovery
Revisions
565.8
Production
(4,777.4)
Purchases
1,037.1
2,923.0
2,633.8
2,046.9
(4,665.8)
(4,719.6)
(4,451.7)
(4,449.5)
110.3
546.0
186.8
Sales (a)
123.1
(3.0)
(110.3)
(152.2)
(274.0)
(2,426.0)
Other (b)
(1.3)
(180.0)
(694.4)
2,362.0
End of year
46,982.5
0.1
44,423.8
46,058.0
45,328.2
44,894.1
(a) Sales for 2012 include 2,397 Bcf for the expropriation process of Repsols shares in YPF. This amount is not included in the all sources
production replacement rate calculation.
(b) Includes transfers, reclassifications and other. The 2012 figure includes 2,360.0 Bcf, which represents YPFs 2012 beginning-of-year gas
reserves.
South and Central America proved reserve acquisition costs (PRAC), finding and development costs (FDC)
and reserve replacement costs (RRC) ($ per boe)
2008
2009
$ 23.76
$ 11.40
FDC
20.98
RRC
21.04
PRAC
2010
2011
1.52
$ 14.76
10.02
24.72
15.74
16.87
19.37
17.21
10.07
22.71
15.71
16.92
18.76
16.84
2012
$
3-year
$
4.29
5-year
$
7.00
South and Central America oil production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
49%
160%
126%
109%
108%
114%
110%
Excluding purchases
and sales
58
160
116
108
108
111
110
2011
2012
3-year
5-year
99%
91%
109%
86%
92
107
84
South and Central America gas production replacement rates

2008
2009
2010
All sources
57%
49%
135%
Excluding purchases
and sales
54
49
126
101
South and Central America production costs ($ per boe)

2008
2009
2010
2011
2012
3-year
5-year
$ 12.05
$ 10.49
$ 12.60
$ 16.21
$ 16.95
$ 15.24
$ 13.65
77
South and Central America capital expenditures for the latest fiscal year
Millions
Proved
properties
acquired
Apache Corporation
Unproved
properties
acquired
Exploration
161.0
27.0
758.0
581.0
1,417.0
Ecopetrol S.A.
37.3
932.3
5,117.8
6,087.3
EOG Resources, Inc.
1.0
19.6
30.6
2.0
53.2
EP Energy LLC
7.0
3.0
13.0
23.0

Total capital
expenditures
51.0
157.0
Other
BP p.l.c.
Development
318.0
1.0
304.0
305.0
118.0
5,952.0
16,976.0
23,046.0
2,534.6
12,042.2
14,576.9
Repsol S.A.
416.7
1,031.4
1,448.0
152.0
479.0
354.0
985.0
YPF S.A.
361.2
1,993.5
2,354.7
All companies
169.0
217.3
$ 11,618.4
$ 38,594.5
$15.0
$ 50,614.1
Integrateds
169.0
216.3
$ 11,433.8
$ 38,095.9
$ 49,915.0
Large independents
1.0
177.6
495.6
2.0
676.2
Independents
7.0
3.0
13.0
23.0
78
South and Central America revenues and results of operations for the latest fiscal year (a)
Millions
Revenues
Apache Corporation
BP p.l.c.
(6)
Ecopetrol S.A.
EOG Resources, Inc.
EP Energy LLC
519.0
Production
costs (b)
$
Exploration
expense
226.0
DD&A (c)
$
225.0
Other
(income)
expense (d)
$
4.0
Results of
operations
Income taxes
$
22.0
42.0
3,010.0
974.0
120.0
606.0
115.0
804.0
391.0
23,627.7
3,742.2
774.4
1,871.4
3,615.3
4,483.8
9,140.6
565.0
38.9
2.3
146.7
119.4
257.8
122.0
53.0
7.0
82.0
1,085.0
188.0
3.0
117.0
43.0
252.0
482.0
(20.0)
77,521.0
28,454.0
3,789.0
7,038.0
1,953.0
12,269.0
24,018.0
101,342.8
9,271.5
1,962.7
9,300.5
2,343.3
68,263.7
10,201.1
Repsol S.A.
3,158.4
1,268.0
245.6
556.8
86.2
399.9
601.9
1,454.0
400.0
198.0
315.0
63.0
137.0
341.0
YPF S.A.
6,918.9
4,153.5
65.5
1,491.7
104.4
384.9
718.9
All companies
$ 219,323.9
$ 48,769.1
7,167.5
$ 21,750.1
8,327.1
$ 87,135.8
$ 46,174.3
Integrateds
$ 217,032.9
$ 48,263.2
7,155.2
$ 21,179.4
8,280.1
$ 86,742.4
$ 45,412.5
2,169.0
452.9
5.3
488.7
47.0
393.4
781.8
122.0
53.0
7.0
82.0
Large independents
Independents
(20.0)
79
South and Central America oil reserves for the latest fiscal year (a)
Million barrels
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Purchases
Apache Corporation
27.7
1.1
BP p.l.c.
75.0
1,371.0
90.4
65.3
42.7
(199.2)
3.5
0.1
(0.6)
Ecopetrol S.A.
EOG Resources, Inc.
EP Energy LLC
0.5
Production
(11.0)
Sales
Other (b)
Ending
Ending
rank
(4.7)
24.7
(10.0)
54.0
1,370.2
3.0
11
2.3
0.3
(0.4)
2.2
12
96.0
7.0
4.0
(11.0)
96.0

(Petrobras)
10,611.0
435.8
325.2
67.8
(716.9)
10,722.9
Petroleos Mexicanos
(PEMEX)
11,362.0
103.0
1,013.0
(1,053.0)
11,424.0
808.0
24.0
14.0
(24.0)
230.0
Corporation
Repsol S.A.
(594.0)
(1.0)
2.0
63.0
7.0
12.0
(13.0)
69.0
12.8
3.9
0.1
(3.3)
13.5
10
18.0
6.0
81.0
(100.0)
584.0
589.0
All companies
24,432.3
683.2
403.5
1,224.5
(2,136.0)
(594.0)
585.0
24,598.5
Integrateds
24,290.0
678.2
396.5
1,219.5
(2,116.1)
(594.0)
585.0
24,459.1
127.2
1.1
7.0
4.6
(16.2)
123.7
15.1
3.9
0.4
(3.7)
15.7
YPF S.A. (10)
Large independents
Independents

80
South and Central America gas reserves for the latest fiscal year
Bcf
Beginning
Apache Corporation
Extensions
and
discoveries
Improved
recovery
Revisions
537.6
2.6
BP p.l.c.
9,398.0
598.0
756.0
Ecopetrol S.A.
2,768.4
298.6
750.7
(3.0)
EOG Resources, Inc.

EP Energy LLC
81.0
Corporation
33.0
11.0

(Petrobras)
12,270.0
295.4
Petroleos Mexicanos
(PEMEX)
12,734.0
162.0
Repsol S.A.
0.5
Production
Purchases
(78.1)
(775.0)
8.8
(189.3)
(24.1)
(138.4)
(116.0)
Other (a)
Ending
Ending
rank
462.6
9,838.0
2,886.5
588.2
(23.0)
(10.0)
68.0
10
(5.0)
39.0
12
356.9
(857.2)
11,441.6
1,377.0
(1,560.0)
12,713.0
2.0
4,513.0
95.0
(623.5)
6,568.0
503.0
216.0
(373.0)
104.0
4.0
8.0
(21.0)
83.5
(2,403.0)
3.8
(11.5)
66.2
11
31.0
4.0
219.0
(431.0)
2,360.0
2,183.0
All companies
45,328.2
1,885.0
147.5
2,046.9
(4,449.5)
(2,426.0)
2,362.0
44,894.1
Integrateds
43,842.4
1,892.0
136.5
2,069.7
(4,206.5)
(2,426.0)
2,362.0
43,670.1
2.6
11.0
(221.5)
1,089.8
(21.5)
134.2
YPF S.A. (10)
Large independents
Independents
(9.6)
Sales
1,321.3
164.5
(9.6)
(23.6)
0.8
81
South and Central America performance measures (three-year averages) (a)

Oil
PRAC
Apache Corporation
BP p.l.c.
41.14
Ecopetrol S.A.
FDC
$
All
sources
RRC
27.68
14.07
Gas
Excluding
purchases
and sales
All
sources
Excluding
purchases
and sales
Production
costs
27.68
55%
55%
71%
71%
14.58
(21)
31
71
83
10.91
5.26
23.72
16.30
16.56
145
142
205
187
14.29
EOG Resources, Inc.
273.09
273.09
31
31
2.04
EP Energy LLC
(61.94)
(61.94)
(79)
(79)
(23)
(23)
26.37
8.68
9.75
220
227
231
231
10.55

(Petrobras)
33.23
33.28
127
127
123
123
30.45
10.97
10.97
92
92
115
115
6.78
Repsol S.A.
9.20
10.06
10.02
(63)
137
(1)
33.68
33.68
162
162
(110)
341
71
YPF S.A.
15.98
105
105
All companies
4.29
19.37
18.76
114%
111%
Integrated
20.16
19.44
19.44
Large independents
Independents
15.98
405
14.62
19.45
(26)
59
59
109%
107%
15.24
24.17
90%
111%
15.40
101%
110%
0.45
14.84
5.48
439
165
113
33
7.96
128.00
4.04
270
46
156
(24)
10.55
82
121
(107)
US
83
US
Includes the 75 largest companies based on 2012 end-of-year oil and gas reserve
estimates. Activity related to acquired companies has also been reflected as
described on page 1.
US capital expenditures (millions)
2008
20,384.0
2009
$
3,993.5
2010
$
42,749.7
2011
$
14,174.4
2012
$
22,836.1
33,962.1
9,711.3
59,369.2
33,673.1
34,058.6
Exploration
16,853.8
14,732.1
16,351.9
22,836.3
27,498.2
Development
68,362.5
46,692.6
63,467.6
86,312.8
104,734.0
Other
Total
768.9
$ 140,331.3
201.8
112.2
203.9
439.3
75,331.3
$ 182,050.6
$ 157,200.5
$ 189,566.2
US revenues and results of operations (millions)

2008
Revenues
2009
2010
2011
2012
$ 190,168.6
$ 125,652.2
$ 153,483.0
$ 187,631.1
$ 182,666.7
45,406.8
36,808.6
41,154.7
52,303.2
57,369.9
Exploration expense
5,140.4
5,024.4
4,954.0
5,818.5
7,140.4
71,140.9
75,471.2
45,536.6
52,795.8
86,882.2
4,218.7
3,691.7
2,821.7
5,222.9
400.9
64,261.8
4,656.3
59,016.1
71,490.7
30,873.3
DD&A (b)
Other expenses (c)
Income taxes
23,866.6
$
40,395.2
1,409.0
$
3,247.3
20,314.5
$
38,701.6
24,555.3
$
46,935.4
11,427.5
$
19,445.8
US proved oil reserves (million barrels) (a)

Beginning of year
2008
2009
2010 (b)
2011
2012 (c)
16,504.7
15,957.2
16,850.1
19,084.9
20,903.2
758.6
934.7
1,686.1
2,536.7
3,795.5
Additions:
170.1
397.4
324.0
520.0
Revisions
Improved recovery
(1,233.9)
1,133.0
965.3
598.8
(95.7)
Production
(1,188.6)
(1,380.1)
Purchases
Sales
Other (d)
End of year
395.5
298.2
200.8
(159.9)
(165.9)
(1,429.9)
1,146.0
(730.5)
582.7
0.2
200.5
15,957.2
16,850.1
19,084.9
(1,457.1)
(1,640.2)
312.7
906.0
(223.2)
(865.9)
(273.6)
20,903.2
0.0
23,523.0
(b) Beginning-of-year reserves for 2010 include 387.6 billion barrels, which represent XTO Energys end-of-year 2009 gas reserves. Sales for
2010 include 387.6 billion barrels to reflect the sale of XTO Energys reserves to ExxonMobil.
(c) Beginning-of-year reserves for 2012 include 114.8 million barrels, which represent Petrohawk Energys end-of-year 2011 oil reserves. Sales
for 2012 include 114.8 million barrels, to reflect the sale of Petrohawk Energys reserves to BHP Billiton.
(d) Includes transfers, reclassifications and other.
84
US proved gas reserves (Bcf)

Beginning of year
2008
2009
2010 (a)
2011
2012 (b)
141,040.7
148,054.8
154,964.2
174,816.4
184,651.1
19,085.4
27,811.3
28,383.3
27,721.3
24,665.0
1,866.9
719.9
1,338.2
846.3
1,382.4
Additions:
Improved recovery
Revisions
Production
(6,905.1)
(8,805.5)
1,455.9
(4,242.7)
(29,337.0)
(11,065.5)
(11,762.9)
(11,914.5)
(13,078.9)
(13,601.1)
Purchases
Sales
5,620.5
1,241.4
17,458.4
6,568.2
7,286.1
(2,588.3)
(2,414.2)
(17,018.6)
(7,977.7)
(9,273.6)
(1.8)
(0.1)
Other (c)
End of year
1,000.3
119.4
149.5
148,054.8
154,964.2
174,816.4
184,651.1
165,772.8
(a) Beginning-of-year reserves for 2010 include 12,501 Bcf, which represent XTO Energys end-of-year 2009 gas reserves. Sales for 2010
include 12,501.7 Bcf to reflect the sale of XTO Energys reserves to ExxonMobil.
(b) Beginning-of-year reserves for 2012 include 3,355.1 Bcf, which represent Petrohawk Energys end-of-year 2011 gas reserves. Sales for 2012
include 3,355.1 Bcf to reflect the sale of Petrohawk Energys reserves to BHP Billiton.
(c) Includes transfers, reclassifications and other.
US proved reserve acquisition costs (PRAC), finding and development costs (FDC) and reserve replacement
costs (RRC) ($ per boe)
2008
PRAC
$ 16.51
2009
2010
2011
2012
3-year
5-year
9.80
$ 10.54
$ 10.07
$ 10.78
$ 10.52
$ 11.29
FDC
53.04
12.91
16.90
19.04
45.40
23.11
23.53
RRC
40.14
12.70
14.80
17.62
32.73
19.58
20.43
2008
2009
2010
2011
2012
3-year
5-year
5%
165%
242%
244%
260%
249%
192%
162
213
237
257
237
182
2008
2009
2010
2011
2012
3-year
5-year
All sources
154%
158%
265%
175%
(39)%
128%
138%
Excluding purchases
and sales
127
168
262
186
(24)
135
140
2008
2009
2010
2011
2012
3-year
5-year
$ 14.97
$ 11.02
$ 12.05
$ 14.38
$ 14.68
$ 13.76
$ 13.45
US oil production replacement rates

All sources
Excluding purchases
and sales
(7)
US gas production replacement rates
US production costs ($ per boe)
85
US capital expenditures for the latest fiscal year
Millions
Proved
properties
acquired
Unproved
properties
acquired
$
224.0
Exploration
$
1,064.0
Development
$
Other
3,592.0
Total capital
expenditures
$
4,880.0
10.3
687.4
839.2
9.4
1,546.2
1,076.0
2,329.0
1,369.0
4,465.0
9,239.0
70.7
10.7
16.4
714.3
812.1
4,746.0
10,366.0
690.0
4,460.0
20,262.0
6.0
163.0
32.2
754.5
8.3
964.0
256.0
1,111.0
1,069.0
3,866.0
6,302.0
88.9
59.2
821.8
969.9
332.0
2,981.0
2,353.0
6,733.0
12,399.0
Chevron Corporation
248.0
1,150.0
511.0
6,597.0
8,506.0
2.6
117.7
109.2
1,426.9
12.5
1,669.0
Apache Corporation
BHP Billiton Group
BP p.l.c.
Cimarex Energy Co.
828.7
441.0
778.6
725.7
47.3
2,821.3
ConocoPhillips
33.0
564.0
1,376.0
4,561.0
6,534.0
CONSOL Energy, Inc.
50.0
28.6
130.3
339.6
548.6
738.4
745.6
854.4
1,975.7
3.3
4,317.4
491.0
115.3
12.0
1,111.3
1,729.6
2.0
1,135.0
351.0
4,408.0
5,896.0
Encana Corporation
5.0
235.0
633.0
1,094.0
1,967.0
Energen Corporation
79.9
58.6
419.3
749.3
1,307.0
EOG Resources, Inc.
0.7
471.3
333.5
5,577.4
80.0
6,463.0
51.0
199.0
1,295.0
49.0
1,594.0
17.0
117.7
4.8
850.9
990.3
47.9
57.3
346.0
1.0
452.2
192.0
1,731.0
646.0
7,676.0
10,245.0
EP Energy LLC (1)

EQT Corporation
64.1
268.2
398.9
731.2
Hess Corporation
179.0
405.0
4,236.0
4,820.0

Linn Energy, LLC
86
16.9
3.7
93.3
831.7
7.4
953.0
2,531.4
181.1
0.5
1,062.0
4.7
3,779.7
756.0
432.0
1,587.0
2,469.0
5,244.0
69.1
107.7
176.2
1,314.8
36.2
1,704.0
Millions
Proved
properties
acquired
13.1
Unproved
properties
acquired
$
13.9
Exploration
$
84.6
Development
$
576.4
Other
$
10.3
Total capital
expenditures
$
698.3
3.0
64.0
929.0
659.0
Nexen Inc.
12.0
255.1
156.1
423.2
Noble Energy, Inc.
68.0
335.0
1,839.0
2,242.0
1,689.0
613.0
539.0
5,344.0
8,185.0
105.3
276.2
20.7
233.1
635.4

PDC Energy, Inc.
(1)
QEP Resources, Inc.
1,655.0
498.0
601.0
538.0
1,637.0
16.9
140.5
964.6
1,824.8
58.9
3,005.8
4,139.0
2,102.6
1,241.1
835.8
8,318.6
714.4
692.6
14.3
1,310.0
2,731.3
23.7
35.2
131.9
190.9
188.8
379.6
1,090.2
58.0
1,716.6
Repsol S.A.
255.9
293.2
599.3
1,148.4
18.8
93.5
532.0
644.3
567.0
2,610.0
4,908.0
4,026.0
12,111.0
1,761.6
377.2
120.4
1,705.0
3,964.2
5.8
115.0
220.9
1,346.2
1,687.9
217.2
194.8
1,492.8
1,904.8
SM Energy Company
WPX Energy, Inc.
37.2
15.6
670.3
723.1
2.0
37.0
11.0
1,097.0
53.0
1,200.0
835.2
48.0
199.6
587.6
705.2
50.4
755.6
19.8
119.2
436.1
1,667.2
2,242.2
111.0
All companies
22,836.1
Integrateds
1,761.0
Large independents
Independents
(1)(8)
34,058.6
7,036.9
23.0
1,130.0
27,498.2
$ 104,734.0
8,433.2
1,264.0
439.3
$ 189,566.2
27,538.3
8,673.6
19,865.4
11,979.6
48,308.2
196.9
44,769.4
89,023.7
12,401.4
7,156.3
7,085.4
28,887.5
242.4
55,773.1
87
US revenues and results of operations for the latest fiscal year (a)
Millions
Revenues
Anadarko Petroleum Corporation (4)
Apache Corporation
BHP Billiton Group
BP p.l.c.
9,000.0
Production
costs (b)
$
2,616.0
Exploration
expense
$
1,484.0
DD&A (c)
$
3,684.0
Other
(income)
expense (d)
$
Results of
operations
Income taxes
$
445.4
770.6
390.4
185.5
15.3
194.7
6,226.0
1,734.0
1,984.0
112.0
851.0
1,545.0
872.6
311.6
20.9
226.0
106.6
207.6
4,894.0
1,376.0
275.0
4,964.0
(745.0)
(976.0)
773.4
204.8
8.8
394.7
121.8
(3.2)
43.3
2,762.0
4,313.0
16,166.0
5,326.0
649.0
5,046.0
1,161.6
310.4
37.5
451.4
161.6
200.7
6,278.0
1,492.0
5,822.0
(404.0)
(632.0)
Chevron Corporation
16,954.0
4,663.0
244.0
3,589.0
59.0
3,043.0
5,356.0
Cimarex Energy Co.
1,581.7
402.9
484.5
13.0
251.2
430.0
(3)

ConocoPhillips
CONSOL Energy, Inc.
(1,930.0)
(2.0)
1,692.4
343.7
39.8
575.1
4.2
277.8
451.7
15,108.0
6,606.0
377.0
3,174.0
390.0
1,438.0
3,123.0
709.8
337.9
203.0
39.0
49.6
80.4
2,379.4
423.9
23.5
805.5
428.1
698.5
2,414.7
682.3
490.5
52.8
457.8
731.3
4,679.0
1,558.0
3,356.0
40.0
(99.0)
(176.0)
Encana Corporation
3,365.0
1,142.0
3,944.0
(623.0)
(1,098.0)
Energen Corporation
1,167.2
306.4
19.4
394.7
7.5
157.7
281.6
EOG Resources, Inc.
7,089.4
1,856.2
163.9
2,931.7
761.5
1,376.1
EP Energy LLC (1)
1,587.0
455.0
45.0
578.0
43.0
466.0
EQT Corporation
793.8
96.2
10.4
409.6
109.7
612.7
207.5
1,649.9
3.9
16,365.0
6,516.0
400.0
5,038.0
1,561.0
605.5
156.9
1,233.5
6.5
173.4
(964.8)
4,104.0
1,153.0
426.0
1,838.0
269.0
418.0
1.2
83.7
156.6
198.5

Hess Corporation
168.0
(1,248.5)
2,850.0
583.6
105.0
237.1
Linn Energy, LLC
1,725.9
525.0
1.9
1,001.9
3,871.0
1,277.0
564.0
1,793.0
86.0
151.0
1,038.0
305.1
51.9
401.8
11.4
99.8
168.0
88
(1.4)
Millions
Revenues

Nexen Inc.
Noble Energy, Inc.
PDC Energy, Inc.
488.6
Production
costs (b)
$
107.0
Exploration
expense
$
DD&A (c)
$
182.8
Other
(income)
expense (d)
$
3.1
Results of
operations
Income taxes
$
81.9
113.8
1,469.0
466.0
2,149.0
(401.0)
303.1
100.0
204.1
269.1
111.0
(304.4)
(76.7)
2,339.0
539.0
225.0
1,002.0
201.0
372.0
10,379.0
3,607.0
230.0
4,143.0
723.0
508.0
1,168.0
307.1
77.5
22.6
309.2
4.1
(40.4)
(745.0)
(65.9)
309.0
40.0
48.0
177.0
113.0
3,141.9
823.4
206.3
1,342.8
9.9
250.5
509.1

Company (1)
2,679.7
681.3
40.3
1,152.0
(0.4)
312.5
493.9
QEP Resources, Inc.
1,393.4
501.1
11.2
971.4
(33.6)
(56.7)
538.9
226.5
2,268.1
(684.5)
(1,271.3)
1,393.1
375.5
69.8
606.1
164.4
177.4
Repsol S.A.
1,081.5
9.0
181.3
402.5
3.9
176.2
308.6
573.0
111.0
154.2
115.7
192.0
(1)
10,194.0
3,135.0
811.0
4,106.0
576.0
531.0
1,035.0
1,759.3
524.4
568.0
29.0
(437.6)
1,075.5
SM Energy Company
1,533.4
391.9
90.2
953.1
34.4
63.7
1,948.2
505.3
2,704.9
(502.7)
(759.3)
554.2
164.3
247.2
5.1


654.0
280.0
12.0
610.0
810.0
268.7
3,361.4
58.8
(679.7)
(69.0)
78.7
(248.0)
(2,140.5)
311.3
103.7
350.2
2,226.0
548.0
59.1
792.6
309.4
WPX Energy, Inc.
2,091.0
1,109.0
72.0
1,164.0
14.0
All companies
$ 182,666.7
$ 57,369.9
$ 7,140.4
$ 86,882.2
$ 400.9
$ 11,427.5
$ 19,445.8
Integrateds
$ (1,178.1)
$ 14,211.6
(98.0)
65,173.5
$ 20,842.0
2,759.3
$ 20,196.5
Large independents
78,557.2
25,098.2
3,605.4
39,156.1
1,274.9
8,342.2
2,944.4
Independents
38,936.0
11,429.7
775.7
27,529.5
304.1
140.9
(142.7)
516.8
(170.0)
6,478.1
(1,244.0)
Revenues determined from the income statement include oil and gas sales and hedging and derivative gains/losses.
89
US oil reserves for the latest fiscal year (a)
Million barrels
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Sales
897.0
12.0
181.0
118.0
Apache Corporation
794.0
156.6
(12.0)
(61.4)
185.9
8.5
12.1
(10.0)
8.3
BHP Billiton Group
267.4
5.0
34.1
170.3
(36.6)
73.9
30.6
17.3
6.6
(2.7)
0.3
(1.3)
2,858.0
23.0
140.0
(280.0)
(142.0)
21.0
20.5
9.6
(3.1)
(2.4)
545.5
513.4
(114.8)
(48.9)
1,311.0
77.0
24.0
(166.0)
BP p.l.c.
Chesapeake Energy
Corporation
Chevron Corporation
4.0
104.0
(84.0)
Purchases
Anadarko Petroleum
Corporation
127.0
Production
(48.0)
(97.0)
16.2
(0.1)
(0.6)
Other (b)
Ending
rank
904.0
206.0
29
893.3
204.2
30
514.1
14
50.8
44
(188.0)
2,432.0
(0.2)
24.4
48
4.8
(107.2)
792.8
10
10.0
(1.0)
1,359.0
Ending
Cimarex Energy Co.
138.1
64.1
(7.6)
(18.5)
0.0
(8.4)
167.8
32
238.3
60.4
(15.9)
(18.0)
30.3
(21.5)
273.5
24
2,009.0
245.0
16.0
(151.0)
1.0
2,120.0
326.1
166.8
33.3
561.2
13
ConocoPhillips
CONSOL Energy, Inc.
(25.1)
67.1
(7.2)
(105.8)
357.7
14.9
69.5
(7.5)
(24.5)
24.7
693.0
179.0
(39.0)
(57.0)
Encana Corporation
38.2
39.2
38.9
(4.2)
0.1
Energen Corporation
183.5
46.9
(18.1)
(11.3)
10.5
EOG Resources, Inc.
721.9
312.6
51.4
(74.8)
1.6
(23.2)
EP Energy LLC
198.5
122.8
(7.0)
(11.8)
0.0
(3.9)
2.9
0.3
0.3
(0.3)
(1)
EQT Corporation
(3.8)
329.1
21
776.0
11
108.4
36
211.5
28
989.4
298.7
22
3.2
52
50
6.4
0.9
6.2
(1.2)
12.2
2,008.0
166.0
22.0
23.0
(122.0)
163.0
(15.0)
2,245.0
76.0
23.5
(12.2)
(6.6)
(5.8)
75.0
40
Hess Corporation
373.0
108.0
7.0
32.0
(45.0)
(2.0)
473.0
16
Laredo Petroleum
Holdings,Inc.
56.3
57.4
(12.4)
(4.8)
1.7
98.1
37
Linn Energy, LLC
282.5
50.3
(40.6)
(19.7)
98.4
370.9
17

279.0
172.0
2.0
9.0
(39.0)
52.0
475.0
15
55.3
77.3
13.0
(9.5)
6.5
142.6
34
43.3
1.3
1.1
(2.9)
42.9
46
220.0
55.0
(4.0)
(14.0)
240.0
26
14.0
(2.0)
12.0
51
Company
Nexen Inc.
90
(17.0)
Million barrels
Beginning
Noble Energy, Inc.
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
244.0
106.0
(57.0)
(24.0)
1,751.0
7.0
159.0
(69.0)
(120.0)
55.0
57.2
39.1
(10.4)
(2.9)
18.9
114.8
53.7
Pioneer Natural
ResourcesCompany
640.8
126.8

249.5
45.7
Corporation
PDC Energy, Inc.
Petrohawk Energy
Corporation (9)
(Petrobras)
Sales
(25.0)
Other (b)
Ending
Ending
rank
244.0
25
1,783.0
(9.8)
92.1
39
(114.8)
54
73.9
41
719.4
12
(0.0)
366.8
18
23.5
(3.3)
7.5
(28.6)
(33.7)
7.4
(0.8)
(14.7)
(25.3)
113.2
(1.5)
QEP Resources, Inc.
144.1
40.3
(0.8)
(11.6)
46.9
0.0
218.9
27
105.2
3.9
(45.9)
(4.4)
(0.1)
58.7
43
Range Resources
Corporation
174.0
128.5
5.4
(9.8)
(12.6)
285.5
23
49.0
6.0
2.0
(10.0)
(1.0)
46.0
45
Repsol S.A.
86.6
39.2
838.0
30.0
7.0
(0.0)
90.0
(8.0)
0.2
(2.0)
116.0
35
(82.0)
26.0
(6.0)
903.0
244.8
116.9
(22.3)
(18.0)
32.2
(23.6)
330.0
20
SM Energy Company
99.2
47.7
31.9
(6.9)
(16.5)
0.1
(1.0)
154.5
33
Southwestern Energy
Company
1.0
0.2
(0.0)
(0.1)
(0.8)
0.2
53
56.8
24.7
16.6
(5.6)
92.5
38
17.3
11.4
(1.5)
(2.5)
24.7
47
Ultra Petroleum
Corporation
33.1
5.4
(19.1)
(1.3)
18.1
49
Vanguard Natural
Resources, LLC
52.2
0.5
(2.5)
(3.4)
14.9
(0.5)
61.2
42
Whiting Petroleum
Corporation
297.8
74.7
3.2
(25.9)
(8.3)
341.4
19
31
WPX Energy, Inc.

All companies
Integrateds
181.1
37.4
(15.5)
(14.8)
(1.3)
186.9
20,903.2
3,795.5
520.0
(95.7)
(1,640.2)
906.0
(865.9)
0.0
23,523.0
7,490.7
410.0
200.0
(5.5)
(570.3)
220.0
(213.0)
7,531.9
Large independents
9,057.8
2,003.4
218.6
Independents
4,354.7
1,382.1
101.4
81.8
(172.0)
(744.7)
212.0
(220.8)
10,608.1
(325.2)
474.0
(432.1)
0.0
5,382.9

91
US gas reserves for the latest fiscal year
Bcf
Beginning
Extensions
and
discoveries
Improved
recovery
Revisions
Production
635.0
(916.0)
Purchases
Sales
Other (a)
Anadarko Petroleum
Corporation
8,365.0
418.0
3,931.0
1,242.0
198.0
Apache Corporation
2,976.2
365.9
(156.8)
534.3
100.1
(205.8)
(19.8)
16.7
BHP Billiton Group
2,729.8
128.3
3.3
328.1
(458.4)
3,297.3
1,181.1
83.4
(212.7)
(101.5)
0.3
(211.5)
13,552.0
225.0
885.0
(1,853.0)
(661.0)
232.0
2,909.9
869.0
(253.0)
Chesapeake Energy
Corporation
15,515.0
3,317.0
(1,129.0)
Chevron Corporation
3,646.0
166.0
5.0
318.0
(440.0)
Cimarex Energy Co.
1,216.4
372.5
(211.4)
(118.5)
889.3
189.4
(40.5)
(70.6)
BP p.l.c.

ConocoPhillips
207.0
(6,080.0)
Ending
Ending
rank
26.0
(199.0)
8,329.0
(87.0)
(1,590.0)
3,694.0
16
(312.6)
313.9
(0.6)
3,185.9
18
425.5
48
6,028.4
739.1
40
(1,149.0)
11,231.0
(37.0)
0.1
3,696.0
15
14.0
(704.0)
10,933.0
33.0
(6.0)
3,722.0
14
0.1
(7.2)
1,251.9
31
157.3
(82.8)
1,042.1
33
10,148.0
451.0
27.0
(483.0)
(685.0)
9.0
9,467.0
CONSOL Energy, Inc.
3,480.0
954.4
(284.6)
(156.3)
3,993.5
13
1,093.8
400.8
(174.7)
(63.9)
89.1
(4.0)
1,341.1
29
625.2
10.0
(54.7)
(10.7)
20.6
(108.8)
481.6
47
9,507.0
1,124.0
(1,118.0)
(752.0)
2.0
(1.0)
8,762.0
Encana Corporation
6,511.0
338.0
(1,701.0)
(593.0)
8.0
(321.0)
4,242.0
10
957.4
61.2
(143.7)
(76.4)
10.7
809.1
39
Energen Corporation
EOG Resources, Inc.
6,045.8
477.8
(1,736.0)
(380.2)
14.8
(386.2)
4,036.0
11
EP Energy LLC (1)
2,701.0
144.0
(657.0)
(239.0)
(72.0)
1,877.0
26
EQT Corporation
5,347.4
1,654.2
(755.8)
(259.4)
(0.7)
5,985.8
1,291.5
96.6
(266.5)
(182.7)
(2.8)
936.1
35
26,366.0
4,045.0
(2,839.0)
(1,524.0)
503.0
(181.0)
26,370.0
1,396.5
93.6
(479.0)
(81.0)
(17.3)
912.8
36
Hess Corporation
360.0
76.0
4.0
10.0
(50.0)
400.0
49
Laredo Petroleum
Holdings,Inc.
601.1
232.4
(260.7)
(39.1)
9.2
542.9
44
1,675.0
407.0
(559.0)
(128.0)
1,176.0
2,571.0
22

Linn Energy, LLC

Company
92
872.0
224.0
(29.0)
(129.0)
105.0
1,043.0
32
98.4
107.2
16.5
(19.4)
7.0
209.7
51
674.9
436.1
(56.5)
(66.1)
988.4
34
2,329.0
181.0
(525.0)
(151.0)
1.0
1,755.0
27
(80.0)
Bcf
Beginning
Nexen Inc.
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
91.0
(20.0)
(15.0)
Noble Energy, Inc.
1,976.0
601.0
(266.0)
(160.0)
Corporation
3,365.0
19.0
317.0
(748.0)
(300.0)
236.0
672.1
172.9
(289.4)
(32.4)
87.2
3,355.1
71.9
2.7
Pioneer Natural
ResourcesCompany
2,518.4
320.2

1,049.4
83.5
QEP Resources, Inc.
2,749.4

Range Resources
Corporation
PDC Energy, Inc.

Petrohawk Energy
Corporation (9)
(Petrobras)
Repsol S.A.
Sales
Other (a)
56.0
53
1,987.0
25
2,889.0
20
(6.4)
604.0
41
(3,355.1)
(485.2)
(157.4)
9.5
(8.0)
(591.4)
(98.5)
79.4
(11.3)
330.6
(240.6)
(249.3)
32.3
1,828.9
25.9
(910.4)
(75.7)
(20.6)
4,009.7
996.1
(216.6)
(73.4)
14.0
33.0
(5.0)
(2.0)
446.0
158.8
(10.1)
(33.9)
0.7
(52.1)
3,259.0
393.0
16.0
(1,045.0)
(404.0)
139.0
(6.0)
1,355.1
489.3
(538.2)
(93.5)
203.0
664.0
297.4
125.1
(123.3)
(120.0)
1.2
5,887.2
918.6
(2,088.0)
(564.5)
(136.5)
616.8
114.5
(97.3)
(36.4)
66.0
SM Energy Company
Southwestern Energy
Company
Ending
rank
(164.0)
(6.9)
76.9
Ending
67.7
52
2,197.5
24
510.8
45
2,622.4
21
848.0
37
4,792.7
(0.2)
40.0
54
509.5
46
2,352.0
23
(0.5)
1,415.0
28
(11.0)
833.4
38
4,016.8
12
597.6
42
(0.0)
1,985.8
(550.0)
(176.8)
1,325.0
30
Ultra Petroleum
Corporation
4,778.6
819.9
(2,382.7)
(249.3)
2,966.4
19
Vanguard Natural
Resources, LLC
162.8
0.3
(9.5)
(19.7)
446.1
(33.5)
546.5
43
Whiting Petroleum
Corporation
285.0
40.9
(61.8)
(25.8)
(14.0)
224.3
50
3,982.9
409.2
(404.8)
(407.0)
5.8
(217.0)
3,369.1
17
184,651.1
24,665.0
1,382.4
(29,337.0)
(13,601.1)
7,286.1
(9,273.6)
Integrateds
47,268.9
4,938.0
910.0
(5,406.3)
(3,090.9)
907.0
(1,344.0)
Large independents
79,886.2
10,434.5
347.3
(12,518.8)
(6,448.5)
4,035.4
(1,857.9)
Independents
57,495.9
9,292.6
125.1
(11,411.8)
(4,061.7)
2,343.6
(6,071.7)
WPX Energy, Inc.

All companies
(0.1)
165,772.8
44,182.7
73,878.2
(0.1)
47,711.9

(1)(8)
93
US performance measures (three-year averages) (a)

Oil
PRAC
4.00
FDC
$
12.49
RRC
$
12.45
All
sources
163%
Gas
Excluding
purchases
and sales
192%
4.23
2.83
2.88
18,718
27,355
Apache Corporation
16.05
40.60
27.66
341
201
10.02
69.25
27.59
375
203
BHP Billiton Group
All
sources
122%
1,287
Excluding
purchases
and sales
132%
Production
costs
$
11.47
1,920
10.67
184
58
14.42
(205)
(280)
20.80
6.82
41.79
17.70
382
316
1,230
128
10.00
10.32
25.87
23.34
916
784
38
95
10.21
BP p.l.c.
19.46
112.14
72.03
(24)
34
(76)
(9)
16.31
7.79
6.12
6.12
452
480
402
448
6.55
23.02
21.13
21.16
776
888
16
172
6.25
Chevron Corporation
6.48
37.43
30.07
100
99
174
90
17.20
Cimarex Energy Co.
6.23
15.97
15.74
326
344
118
172
10.90
15.62
22.81
19.89
406
291
501
328
11.92
ConocoPhillips
19.95
16.82
16.84
150
156
41
49
23.20
9.72
10.28
10.11
576
481
12.88
CONSOL Energy, Inc.

9.60
13.09
12.61
827
711
772
702
11.83
12.08
21.49
15.70
299
264
888
283
25.31
9.29
17.78
17.71
244
272
113
127
8.32
Encana Corporation
5.22
17.55
16.98
700
783
25
96
11.46
Energen Corporation
8.52
29.10
21.11
485
297
60
36
12.44
EOG Resources, Inc.
1.07
20.37
20.26
541
563
(90)
(30)
12.39
EP Energy LLC (1)
7.05
11.93
11.84
982
1,024
54
84
8.10
EQT Corporation
20.02
7.63
7.83
299
291
424
418
2.45
11.04
25.07
23.18
353
370
102
114
7.01
7.88
40.12
18.37
238
112
451
132
16.37

5.78
118.72
112.94
209
259
(86)
(63)
7.25
24.49
34.73
34.23
302
289
168
158
19.80
5.31
13.68
13.51
1,042
1,025
386
376
8.65
Linn Energy, LLC
10.25
26.27
12.70
647
165
843
65
13.69
14.14
34.96
27.49
435
279
159
105
20.49
9.01
17.49
17.10
601
573
315
303
20.81
5.72
11.22
10.96
58
74
603
589
12.00
44.56
41.66
378
414
(62)
(33)
Hess Corporation
94
7.91
12.29

Oil
PRAC
Nexen Inc.
Noble Energy, Inc.
FDC

PDC Energy, Inc.
RRC
$ (666.78)
6.54
All
sources
$ (666.78)
29.68
21.77
13%
156
Gas
Excluding
purchases
and sales
13%
All
sources
Excluding
purchases
and sales
Production
costs
(21)%
(21)%
205
201
124
10.56
14.01
16.98
66.06
35.54
154
88
111
(27)
18.69
5.34
18.40
12.61
1,081
856
95
(4)
9.58

(Petrobras)
34.11
40.63
1,548
1,550
213
214
14.89
1.89
18.21
17.46
433
417
43
45
12.87

Company (1)
31.10
64.65
47.12
339
174
(25)
28
14.90
QEP Resources, Inc.
13.57
16.23
15.82
917
711
114
110
8.31
6.03
(9.05)
(12.13)
(209)
(208)
(186)
(228)
12.04
6.30
5.14
5.16
939
522
687
7.31

Company
Repsol S.A.
1,126
120.05
120.05
33
36
281
296
3.89
8.76
6.96
6.99
846
857
301
470
7.64
7.66
46.00
41.76
179
175
102
103
18.06
20.70
12.71
14.85
704
601
407
487
15.06
SM Energy Company
19.31
14.67
14.67
392
457
231
252
10.54

7.85
16.32
16.32
(132)
91
125
141
5.52
12.79
13.81
276
309
449
523
14.71
66.43
21.73
22.75
897
855
296
292
7.44
12.34
(195.38)
(195.38)
(175)
(175)
88.28
12.92
785
55
(11)
1,422
(11)
6.67
(51)
16.61
38.91
25.93
26.01
280
294
(4)
22
17.37
WPX Energy, Inc.
14.30
20.36
19.72
423
369
43
57
13.24
All companies
10.52
23.11
19.58
249%
237%
128%
135%
13.76
Integrateds
8.41
43.46
26.11
120%
108%
228%
87%
16.77
Large independents
11.16
20.81
18.85
271
276
55
125
13.28
Independents
13.12
16.61
15.83
494
441
159
190
10.93
95
96
Other/unspecified
97
Other/unspecified
Other/unspecified capital expenditures (millions)
2008
Exploration
Development
Other
Total
3,761.2
2009
$
4,903.2
2010
$
3,811.7
2011
$
7,341.4
2012
$
924.2
11,397.3
2,625.5
7,843.2
14,624.5
2,526.4
7,944.3
8,151.1
8,652.5
8,468.1
8,542.3
18,642.5
23,523.8
23,815.7
29,488.3
33,251.6
10.2
17.1
102.5
46.3
144.0
$ 41,755.5
$ 39,220.7
$ 44,225.6
$ 59,968.7
$ 45,388.5
Other/unspecified revenues and results of operations (millions)

2008
Revenues
2009
2010
2011
2012
$ 53,672.1
$ 63,345.5
$ 84,538.4
$ 119,914.8
$ 124,448.1
11,312.4
17,501.1
23,583.5
34,278.4
36,769.7
Exploration expense
5,964.9
5,746.5
5,671.3
5,678.7
7,179.1
DD&A (b)
9,503.9
11,779.5
12,693.3
13,849.6
18,411.2
Other expenses (c)

Income taxes
749.2
5,365.9
7,973.3
12,250.6
14,634.1
26,141.6
22,952.5
34,617.1
53,857.5
47,454.1
14,997.9
$ 11,143.7
13,502.0
16,465.3
24,031.8
23,296.6
9,450.5
$ 18,151.8
$ 29,825.8
$ 24,157.5
Other/unspecified proved oil reserves (a) (million barrels)

2008
Beginning of year
2009
2010
2011
2012
5,509.8
11,050.3
9,876.0
9,864.8
10,659.1
183.4
604.3
315.8
276.1
978.1
Additions:
Improved recovery
Revisions
Production
Purchases
Sales
Other (b)
End of year
14.0
49.2
55.0
76.2
32.6
463.5
209.4
450.1
236.0
548.7
(464.0)
(861.5)
(834.2)
(934.0)
(940.6)
91.1
104.0
488.2
734.9
114.4
(197.0)
(334.7)
5,449.5
11,050.3
(945.0)
9,876.0
(32.6)
(453.5)
9,864.8
(367.0)
(50.6)
772.1
2.1
10,659.1
11,343.8
(b) Includes transfers, reclassifications and other. The 2012 figure includes 2.0 million barrels, which represents YPFs 2012 beginning-of-theyear oil reserves.
98
Other/unspecified proved gas reserves (Bcf)

Beginning of year
2008
2009
2010
2011
2012
37,546.5
77,876.8
82,706.1
74,960.6
80,100.7
560.7
6,003.7
2,632.2
5,977.0
4,435.0
322.9
328.6
203.0
111.0
Additions:
Improved recovery
Revisions
Production
3,051.5
3,311.4
1,936.3
1,375.7
1,614.1
(2,648.1)
(4,255.3)
(4,449.3)
(4,920.8)
(5,348.3)
Purchases
3,089.2
1,737.0
142.0
Sales
(1,748.0)
(2,425.4)
(945.6)
4,291.0
(347.0)
Other (a)
38,025.0
135.0
(7,389.7)
(1,438.8)
End of year
77,876.8
82,706.1
74,960.6
80,100.7
791.8
(281.7)
41.0
81,463.6
(a) Includes transfers, reclassifications and other. The 2012 figure includes 41.0 Bcf, which represents YPFs beginning-of-year gas reserves.
Other/unspecified proved reserve acquisition costs (PRAC), finding and development costs (FDC) and
reserve replacement costs (RRC) ($ per boe)
2008
2009
6.21
$ 12.46
FDC
30.08
13.90
24.69
28.48
17.19
22.65
21.40
RRC
22.34
13.70
20.58
18.19
16.02
18.07
17.72
PRAC
2010
$
7.45
2011
$
5.06
2012
$
3.75
3-year
$
5.47
5-year
$
6.47
Other/unspecified oil production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
120%
73%
153%
102%
173%
142%
125%
Excluding purchases
and sales
142
98
63
166
110
111
100
Other/unspecified gas production replacement rates

2008
2009
2010
2011
2012
3-year
5-year
All sources
187%
210%
92%
234%
125%
151%
167%
Excluding purchases
and sales
136
226
110
154
115
126
147
Other/unspecified production costs ($ per boe)

2008
2009
2010
2011
2012
3-year
5-year
$ 12.49
$ 11.14
$ 12.86
$ 17.37
$ 17.38
$ 16.00
$ 14.58
99
Other/unspecified capital expenditures for the latest fiscal year
Millions
Proved
properties
acquired
Unproved
properties
acquired
$
15.0
Exploration
$
1,000.0
Development
$
472.0
Other
$
Total capital
expenditures
$
1,487.0
Apache Corporation
96.0
2.0
98.0
BG Group plc
61.0
1,003.0
5,855.0
6,919.0
BHP Billiton Group
331.0
102.0
433.0
BP p.l.c.
439.0
38.0
1,155.0
1,632.0
57.0
362.0
1,504.0
1,923.0
CNOOC Limited
84.2
1,999.8
2,084.0
193.0
1,748.0
1,941.0
2.6
124.7
1,976.6
2,103.9
(1)
(1)
ConocoPhillips (1)
Eni SpA (1)
EOG Resources, Inc.
54.0
135.6
12.0
200.9
651.0
651.0
Hess Corporation
10.0
335.0
971.0
1,316.0
Husky Energy Inc.
25.0
834.3
859.3
INPEX CORPORATION
188.8
37.0
225.8
(0.6)
(13.0)
136.0
5.0
128.0
116.5
33.9
157.5
1,182.2
1,490.1
10.2
97.6
1.6
109.4
Nexen Inc.
142.1
344.1
486.2
Noble Energy, Inc.
28.0
173.0
70.0
271.0
97.0
37.0
160.0
2,111.0
2,405.0
350.5
215.7
178.9
198.7
99.0
1,042.9
OAO LUKOIL
(1)
1.0
79.0
80.0
426.0
2,800.0
3,226.0
Sasol Limited
1.6
59.1
16.1
76.8
51.6
1,100.0
2,045.3
5,482.7
8,679.5
66.0
351.0
105.0
33.0
555.0
(1)
Statoil ASA
Total S.A.
306.1
465.5
697.0
3,353.9
4,822.5
WPX Energy, Inc.
31.0
35.0
66.0
YPF S.A. (1)
52.1
23.9
76.0
All companies
$ 924.2
$ 2,526.4
$ 8,542.3
$ 33,251.6
$ 144.0
$ 45,388.5
Integrateds
(1)
924.2
2,359.8
4,636.7
21,505.1
99.0
29,524.8
Large independents
90.4
3,259.0
10,426.4
12.0
13,787.7
Independents
76.2
646.7
1,320.1
33.0
2,075.9
(1)(8)
100 | Global oil and gas reserves study
Other/unspecified revenues and results of operations for the latest fiscal year (a)
Millions
Revenues
Apache Corporation
3,396.0
Production
costs (b)
$
829.0
Exploration
expense
$
462.0
DD&A (c)
$
390.0
Other
(income)
expense (d)
$
Results of
operations
Income taxes
$
466.9
1,248.1
43.0
BG Group plc
8,493.0
1,232.0
598.0
1,837.0
1,489.0
1,642.0
1,695.0
(43.0)
BHP Billiton Group
1,580.0
387.0
304.0
218.0
534.0
137.0
BP p.l.c.
6,533.0
5,054.0
32.0
866.0
(13.0)
348.0
246.0
5,509.0
2,405.0
145.0
793.0
177.0
609.0
1,380.0
CNOOC Limited (1)
1,390.7
849.7
265.3
589.4
6.2
12.5
(332.4)
ConocoPhillips (1)
3,553.0
1,597.0
231.0
896.0
92.0
131.0
606.0
Eni SpA (1)
2,865.2
700.9
210.9
1,732.3
42.4
111.9
66.9
(1)
EOG Resources, Inc.
23.2
13.0
19.4
18.0
25,710.0
7,142.0
676.0
8,234.0
9,658.0
Hess Corporation
1,784.0
431.0
489.0
484.0
156.0
224.0
Husky Energy Inc.
264.1
31.0
45.0
11.0
51.0
126.1
14,625.9
5,006.3
148.7
277.2
6,435.6
2,758.1
19.0
73.0
(55.0)
(69.0)
371.3
66.3
271.7
238.3
524.1
0.1
48.4
84.7
31.3
(40.1)
(124.2)
703.3
134.1
28.0
371.1
51.0
95.1
24.0
INPEX CORPORATION
(7)
(32.0)
1,471.8

Nexen Inc.
Noble Energy, Inc.
OAO LUKOIL (1)
(1)

Sasol Limited
Statoil ASA
Total S.A.
(1)
WPX Energy, Inc.

YPF S.A.
384.0
105.0
210.0
75.0
74.0
1,388.0
165.0
626.0
851.0
1,642.0
2,711.9
310.4
206.3
515.5
31.1
1,145.9
502.6
186.0
154.0
56.0
80.0
42.0
14,374.0
6,455.0
546.0
1,686.0
300.0
29.6
52.1
21.4
859.4
1,925.0
2,664.0
1,976.5
623.0
94.0
303.0
425.0
67.0
(266.0)
15,731.7
1,027.5
439.8
2,757.2
10,439.8
245.6
821.8
137.0
72.0
11.0
27.0
10.0
17.0
24.2
$ 36,769.7
Integrateds
22.6
(131.0)
3,254.0
166.1
81.3
Independents
(15.0)
2,133.0
(80.0)
7,510.8
$ 124,448.1
Large independents
(5.3)
4,672.0
All companies
(1)
(21.9)
(189.1)
40.3
275.0
62.4
29.0
3.3
7,179.1
$ 18,411.2
$ 14,634.1
$ 23,296.6
$ 24,157.5
(37.6)
89,306.8
$ 26,352.3
4,395.9
$ 13,202.1
$ 12,995.9
$ 13,894.6
$ 18,466.0
33,413.9
10,037.9
2,311.5
4,343.6
1,587.2
9,219.1
5,914.6
1,727.5
379.5
471.7
865.5
51.0
183.0
(223.2)
Revenues determined from the income statement include oil and gas sales and hedging and derivative gains/losses.
Global oil and gas reserves study | 101
Other/unspecified oil reserves for the latest fiscal year (a)
Million barrels
Beginning
Anadarko Petroleum
Corporation
248.0
Apache Corporation
BG Group plc
BHP Billiton Group
Extensions
and
discoveries
Improved
recovery
Revisions
Production
51.0
(31.0)
Sales
Other (b)
Ending
268.0
Ending
rank
11
940.8
235.8
112.9
(42.5)
0.8
1,247.8
41.5
5.0
(9.6)
36.9
16
1,025.0
24.0
(109.0)
924.0
514.0
102.0
8.0
38.0
(43.0)
619.0
CNOOC Limited
BP p.l.c. (1)
(16.0)
Purchases
346.0
157.0
13.0
(17.0)
499.0
ConocoPhillips (1)
256.0
(9.0)
247.0
12
Eni SpA (1)
432.0
12.0
41.0
(33.0)
0.1
8.8
0.0
(0.0)
(1)
EOG Resources, Inc.
(32.0)
420.0
10
8.9
23
2,643.0
164.0
149.0
(223.0)
36.0
2,765.0
Hess Corporation
52.0
1.0
1.0
(6.0)
48.0
14
Husky Energy Inc.
7.0
8.0
3.0
(2.0)
16.0
19
(4.0)
INPEX CORPORATION
15
35.0
2.0
36.0
3.0

Nexen Inc.
19.0
1.0
OAO LUKOIL (1)
Noble Energy, Inc.
617.0
42.0
(1.0)
(4.0)
(7.0)
9.0
39.0
(3.0)
(4.0)
13.0
20
42.0
(2.0)
651.0
(20.2)
15.4
(2.4)
150.5
13
(2.3)
24.3
18
150.8
0.3
6.6
29.6
(3.0)
613.0
2.0
82.0
(135.0)
3.7
0.6
1.1
(1.5)
499.0
166.0

Total S.A. (1)
WPX Energy, Inc.
33.0
(63.0)
1.0
(0.9)
0.2
(1.9)
2,123.0
74.0
32.0
(129.0)
11.0
12.1
2.1
(1.1)
(1.6)
15.5
YPF S.A. (1) (10)

All companies
10,659.1
(1.0)
(1.0)
(2.0)
561.0
0.1
4.0
24
635.0
12.9
21
2,109.0
11.5
22
25
1.0
(1.0)
2.0
2.0
978.1
32.6
548.7
(940.6)
114.4
(50.6)
2.1
11,343.8
Integrateds
8,737.1
563.3
32.6
365.7
(816.0)
114.4
(47.4)
2.1
8,951.8
Large independents
1,851.4
402.6
181.9
(112.1)
(3.2)
2,320.6
70.6
12.2
1.1
(12.5)
71.4
Independents

17
(46.0)
Statoil ASA
31.0
(2.0)

(Petrobras) (1)
Sasol Limited
(3.0)
Other/unspecified gas reserves for the latest fiscal year
Bcf
Beginning
Anadarko Petroleum
Corporation
Apache Corporation
BG Group plc
BHP Billiton Group
BP p.l.c.
(1)
Extensions
and
discoveries
Improved
recovery
Revisions
Production
Purchases
Sales
11,357.0
959.0
(522.0)
(976.0)
735.6
29.1
(122.6)
642.1
14
2,500.0
3.0
111.0
255.0
(204.0)
2,665.0
2,867.0
46.0
(40.0)
(156.0)
2,717.0
(22.0)
176.0
149.0
330.0
(73.0)
Eni SpA (1)
5,288.0
798.0
18.5
0.3
1.6
(3.4)
20,566.0
252.0
(1,148.0)
(175.0)
1,301.0
Hess Corporation
1,500.0
171.0
42.0
Husky Energy Inc.
108.0
271.0
INPEX CORPORATION
162.0
59.0
1,043.0
143.0

11,918.0
593.0
EOG Resources, Inc.
Ending
rank
3,368.0
Ending
ConocoPhillips (1)
CNOOC Limited
(1)
Other (a)
(65.0)
(68.0)
850.0
13
(182.0)
(127.0)
3,316.0
(137.0)
(34.0)
7,216.0
17.0
21
19,670.0
(26.0)
(94.0)
1,538.0
11
379.0
15
195.0
17
30.0
1,057.0
12
Nexen Inc.
12.0
9.0
22
Noble Energy, Inc.
(1.0)
(2.0)
6,345.0
98.0
(143.0)
(274.0)
1.0
(17.0)
6,010.0
183.1
16.2
(27.8)
174.8
(9.7)
336.6
16

(Petrobras) (1)
43.5
5.2
(0.9)
47.8
19
7,410.0
26.0
298.0
(579.0)
1,560.0
352.0
OAO LUKOIL
(1)
Sasol Limited
Statoil ASA
(10.0)
(223.0)
18.0
13,805.0
1,056.0
68.0
75.0
5.7
(18.0)
9.0
All companies
80,100.7
4,435.0
111.0
1,614.1
(5,348.3)
791.8
Integrateds
63,110.6
2,693.0
111.0
1,988.4
(3,960.7)
Large independents
16,807.1
1,465.3
(356.3)
183.0
276.7
(18.0)
Total S.A. (1)

WPX Energy, Inc.
YPF S.A. (1) (10)
Independents
(21.0)
(14.0)
7,134.0
1,683.0
10
14,531.0
54.1
18
41.0
39.0
20
(281.7)
41.0
81,463.6
791.8
(130.7)
41.0
64,644.4
(1,379.0)
(151.0)
16,386.1
(8.6)
433.1
(931.0)
568.0
(8.6)
(11.0)
(35.0)

Other/unspecified performance measures (three-year averages) (a)

Oil
PRAC
Apache Corporation
BG Group plc
BHP Billiton Group
BP p.l.c. (1)
FDC
$
RRC
42.45
42.45
Gas
All
sources
Excluding
purchases
and sales
121%
121%
All
sources
%
Excluding
purchases
and sales
%
Production
costs
$
28.95
25.76
13.44
13.58
685
684
139
142
5.57
68.45
68.45
42
42
15
15
10.56
0.39
17.72
11.38
(19)
26
125
123
27.37
24.73
24.79
167
167
36
36
28.74
17.88
46.67
34.04
1,131
614
309
202
25.85
ConocoPhillips (1)
18.97
20.31
283
283
258
323
34.65
Eni SpA
5.98
5.98
33.54
33.54
CNOOC Limited
(1)
(1)
EOG Resources, Inc.
303
9,709
339
1,265
1,273
12.30
9,709
133
133
15.53
2.65
2.45
76
70
32
32
15.20
Hess Corporation
95.58
95.58
(63)
(31)
34
51
11.23
Husky Energy Inc.
25.29
25.29
214
229
12.20
INPEX CORPORATION
19.95
19.95
(67)
33
140
140
(1)
7.50
38.87
31.48
52
71
157
136
16.95
Nexen Inc.
628.00
628.00
12
12
18.32
Noble Energy, Inc.
(92.05)
(92.05)
(69)
(38)
266.14
43.96
106
35
Mitsui & Co., Ltd.
(1)
2.02
OAO LUKOIL (1)
14.29
98
17.45
20.14
19.84
72
76
49
83
23.87
Sasol Limited
54.62
54.62
82
82
15.10
39.87
254
225
285
257
13.87
(21)
(13)
31.04
10.82
Total S.A.
(1)
WPX Energy, Inc.
47.35
(1,541.17)
All companies
Integrated
Large independents
Independents
(2,162.99)
(100)
(100)
3.04
48.74
11.23
195
45.69
45.69
87
87
170
(316)
273
(14)
39.68
84
3.24
(14)
19.66
30.41
100
100
82
82
22.65
18.07
142%
110%
151%
126%
16.00
3.76
22.78
76%
16.69
30.41
8.53
16.24
107%
151%
113%
20.58
20.53
20.53
431
383
144
154
12.55
67.67
74.05
47
51
1,399
1,514
22.02
(316)
5.47
YPF S.A. (1)
(109.44)
53
(27)
19.75
(105.03)
83
21.00
(29)

(Petrobras) (1)
28.55
(79)
Statoil ASA
34.80
(1,236)
Other information
Study companies and their areas of operations

Based on companies disclosures in their annual reports for the most recent fiscal year.
Africa and
Middle East
South and
Central
America
US
Other/
unspecified
Apache Corporation
Asia-Pacific
Canada
Europe

BG Group plc
BHP Billiton Group
CONSOL Energy, Inc.

Ecopetrol S.A.
Encana Corporation
Energen Corporation
EOG Resources, Inc.

EP Energy LLC
EQT Corporation
Hess Corporation
Husky Energy Inc.
Linn Energy, LLC
Mitsui & Co., Ltd.
INPEX CORPORATION
Eni SpA
Cimarex Energy Co.
ConocoPhillips

CNOOC Limited

Chevron Corporation


BP p.l.c.
Africa and
Middle East
Asia-Pacific
Canada
Europe
South and
Central
America
Nexen Inc.
OAO NOVATEK
SM Energy Company
WPX Energy, Inc.
YPF S.A.
QEP Resources, Inc.
Total S.A.

Company
Statoil ASA
Sasol Limited
Repsol S.A.
PDC Energy, Inc.

OAO LUKOIL
Other/
unspecified
Noble Energy, Inc.
US
Peer groups
Integrateds
Independents
BP p.l.c.
Chevron Corporation
(Sinopec)
Ecopetrol S.A.
Eni SpA
Hess Corporation
Mitsui & Co., Ltd.
OAO LUKOIL
OAO NOVATEK
Repsol S.A.
Sasol Limited
Statoil ASA
Total S.A.
YPF S.A.

Cimarex Energy Co.
CONSOL Energy, Inc.
Energen Corporation
EP Energy LLC
Husky Energy Inc.
Linn Energy, LLC
Nexen Inc.
PDC Energy, Inc.
QEP Resources, Inc.
SM Energy Company
WPX Energy, Inc.
Large independents
Apache Corporation
BG Group plc
BHP Billiton Group
CNOOC Limited
ConocoPhillips
Encana Corporation
EOG Resources, Inc.
EQT Corporation
INPEX CORPORATION
Noble Energy, Inc.
Company footnotes
(1) Amounts presented for BP, Chevron,
CNOOC, ConocoPhillips, Eni, EP Energy,
ExxonMobil, LUKOIL, Mitsui, Petrobras,
Plains Exploration& Production, Royal Dutch
Shell, Total and YPF include investments
accounted for by the equitymethod.
(2) All of Rosnefts oil and gas reserves
areincluded as oil reserves as the company
discloses its reserves on a boebasis only.
(3) Revenues and results of operations amounts
presented for BP do not reflect any costs
relating to the Gulf of Mexico oil spill.
(4) Revenues and results of operations amounts
presented for Anadarko Petroleum exclude
Deepwater Horizon settlement and related
costs that were included by the company in
its results of operations disclosure.
(5) Production taxes for Total are included in
other (income) expense as the company
does not separately disclose this expense.
(6) BPs and Marathons results of operations
disclosures contain impairments combined
with other items. Impairments that were
specifically identified in the footnotes
have been presented as DD&A, while the
remainderis presented consistent with the
companys disclosure.
(7) NPEX discloses its capital expenditures
and oil and gas reserves by region, while
its revenues and results of operations are
disclosed for worldwide only. The companys
capital expenditures and oil and gas reserves
are presented by region, while its revenues
and results of operations are presented in
worldwide and other/unspecified only. INPEX
is not included in the production costs per
boe calculations for Africa and Middle East,
Asia-Pacific and other/unspecified.
(8) Amounts presented for NOVATEKs oil
and gas reserves include extensions and
discoveries that were reported by the
company as acquisitions anddescribed
as being related to the first time reserve
estimation for certain fields acquired in late
2011 and additionally explored in 2012.
(9) As described on page 1, amounts equal to
Petrohawk Energys beginning-of-year oil
and gas reserves are included as sales to
reflect the BHP Billiton transaction.
(10) As described on page 1, YPFs beginning-ofyear oil and gas reserves are presented in
the other component of the reserves tables.
EYs Global Oil & Gas Center contacts

Dale Nijoka
Global Oil & Gas Leader
+1 713 750 1551
dale.nijoka@ey.com
Alexandre Oliveira
Global Oil & Gas Deputy Leader,
Emerging Markets
+971 4 7010750
alexandre.oliveira@ae.ey.com
Allister Wilson
Global Oil & Gas
AssuranceLeader
London
+44 20 7951 1443
awilson@uk.ey.com
Alexey Kondrashov
Global Oil & Gas Tax Leader
Moscow
+7 495 662 9394
alexey.kondrashov@ru.ey.com
Andy Brogan
Global Oil & Gas
TransactionsLeader
London
+44 20 7951 7009
abrogan@uk.ey.com
Axel Preiss
Global Oil & Gas Advisory Leader
Frankfurt
+49 619 699 96 17589
axel.preiss@de.ey.com
Derek Leith
Aberdeen
+44 1224 653246
dleith@uk.ey.com
Claire Lawrie
Lagos
+234 703 909 7963
claire.lawrie@ng.ey.com
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Bahrain
+97 3 5354 553
thorsten.ploss@bh.ey.com
Andy Brogan
London
+44 20 7951 7009
abrogan@uk.ey.com
KC Yau
Beijing
+86 10 5815 3339
kc.yau@cn.ey.com
Alexey Loza
Moscow
+7 495 641 2945
alexey.loza@ru.ey.com
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Brisbane
+61 7 3011 3385
mark.hayward@au.ey.com
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Perth
+61 8 9429 2424
russell.curtin@au.ey.com
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Calgary
+1 403 206 5017
barry.g.munro@ca.ey.com
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Rio de Janeiro
+55 21 3263 7212
carlos.assis@br.ey.com
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Cape Town
+020 7951 467
tabrez.khan@za.ey.com
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Singapore
+65 6309 8688
sanjeev-a.gupta@sg.ey.com
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Houston
+1 713 750 8138
deborah.byers@ey.com
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Stavanger
+47 51 70 66 00
john.avaldsnes@no.ey.com
Jane Fitton
Johannesburg
+27 11 77 2 3736
jane.fitton@za.ey.com
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EY Global Oil and Gas Reserves Study 2013

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Global oil and gas

Worldwide company statistics

Summary of 2012 study results 40

South and Central America 76

| Global oil and gas reserves study

Acquired companies and othertransactions

The study includes companies headquartered in 18 countries

Due to the significance of the operations of two companies that

The companies have been classified into three peer groups:

In June 2010, XTO Energy was acquired by Exxon Mobil

Global oil and gas reserves study |

The SEC Rule

The performance measures presented herein were calculated based

On 31 December 2008, the SEC issued a final rule titled

Proved reserve acquisition costs are calculated as proved

The main provisions of the SEC Rule include the following:

| Global oil and gas reserves study

Users of this report should keep in mind the following limitations

This report excludes government and privately owned companies

The data included herein is based on each years original disclosures

Individual companies did not prepare or review the compiled

All currency amounts are reported in US dollars. Foreign currency

Global oil and gas reserves study |

Worldwide study results

Unproved properties acquired

Proved property acquisition costs declined 11% in 2012

| Global oil and gas reserves study

The largest increases in combined exploration and

Total worldwide capital expenditures for the study

Worldwide 2012 capital expenditures leading companies (millions)

Unproved properties acquired

BHP Billiton Group

BHP Billiton Group

Royal Dutch Shell plc

Linn Energy, LLC

PetroChina Company Limited

SandRidge Energy, Inc.

Chesapeake Energy Corporation

Occidental Petroleum Corporation

Pengrowth Energy Corporation

Plains Exploration & Production Company (1)

Royal Dutch Shell plc (1)

Exxon Mobil Corporation (1)

Concho Resources Inc.

Marathon Oil Corporation

PetroChina Company Limited

Petroleo Brasileiro, S.A. (Petrobras) (1)

Exxon Mobil Corporation (1)

PetroChina Company Limited

Royal Dutch Shell plc

Royal Dutch Shell plc (1)

Petroleo Brasileiro, S.A. (Petrobras) (1)

China Petroleum & Chemical Corporation

Exxon Mobil Corporation (1)

Petroleos Mexicanos (PEMEX)

See company footnotes on page 108.

Global oil and gas reserves study |

Revenues and results of operations

Production costs (b)

| Global oil and gas reserves study

Combined oil and gas production increased 2% in

were heavily impacted by low natural gas prices with

Worldwide after-tax profits for the study companies

Worldwide 2012 revenues and results of operations leading companies (millions)